LUXEMBOURG/DONGYING, PR China, September 14, 2010 /PRNewswire-Asia/--CNPV Solar Power SA, a public limited liability company organized under the laws of the Grand Duchy of Luxembourg and a leading integrated manufacturer of solar photovoltaic products, today signed a new sales contract for the supply of 1MWp of High Performance Modules to be installed in October 2010. The agreement with Linyi Juhuang New Energy Technology Development Company Limited, a solar photovoltaic systems and LED energy saving facilities Company, calls for the provision of a further 19MWp of modules to be provided during 2011 and 2012.
"The first grid connected system is on target for connection using our premium solar module range," said Mr. B. Veerraju Chaudary, CNPV's COO, CTO & Member of the Board. "This bespoke system will add a further 25% yield increase on our premium range’s market leading capability. It is an exciting time for us to be further involved in Shandong Province’s home grown solar electricity generation. It is very personally rewarding to see our dedication to high yield products providing local advantage."
Mr. Zhang Shunfu, CEO of CNPV and Mr.Jingtai Michael Li, Chairman of Linyi Juhuang, both enthused, "While it is recognised that the projects are not as large as some others we deal with, being 1 MWp each, the impact on the positive presentation of solar energy collection is extremely significant and demonstrates that with the right technology and the right Companies, noteworthy increases in solar energy harvesting can be led from within China."
Chingtai Michael Lee (Linyi Juhuang New Energy Technology, Chairman)
B.Veerraju Chaudary (COO, CTO & Member of the Board CNPV)
CNPV Solar Power SA (NYSE Euronext: ALCNP), through its wholly-owned subsidiary, CNPV Dongying Solar Power Company Limited, is a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules that designs, manufactures and supplies highly efficient and cost effective crystalline solar photovoltaic modules. Reliability & longevity are built into our world-class crystalline solar photovoltaic modules, which undergo rigorous internal tests and external certifications (IEC61215, IEC61730, UL, and CE) to ensure peak performance and safety. For further information, please visit CNPV's website at http://www.cnpv-power.com
About Linyi Juhuang New Energy Technology Development Company Limited
Linyi Juhuang New Energy Technology Development Company Limited is occupied in the R&D of PV solar power systems and LED energy saving facilities. The Company has two R&D centers based in Nanjing and Linyi where it takes the lead in advancing technology, developing its personnel on an international basis and forming alliances that bring together academia, research and industry. Utilizing this broad reach, it develops and capitalizes upon, market focused solutions.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, CNPV's ability to raise additional capital to finance its activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Euronext in Paris. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For more information, please contact:
CNPV Solar Power SA
B.Veerraju Chaudary, COO, CTO & Member of the Board
Direct Land Line: +86-546-7795053,
Jingtai Michael Li, Chairman
Chuangye Road, Economic Development Zone,
Pingyi Town, Linyi city, Shandong Province, PR China
CNPV Solar Power SA
Jane Liu, Director-Investor Relations & Financing
Direct Land Line: +86-546-7795078
SOURCE: CNPV Solar Power SA and Linyi Juhuang New Energy Technology Development Company Limited.