LUXEMBOURG/DONGYING/PRAGUE, PR China, September 27, 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 and Stand-by Europe project developer and distribution company, today disclosed the level of success they are experiencing as a result of their long term strategic partnership agreement.
Under the terms of their strategic agreement, CNPV and STAND-BY Europe provisioned to provide 5MWp of solar modules during Q42009 and 25MWp, 30MWp and 40MWp scheduled for delivery in 2010, 2011 and 2012 respectively. If they were on track to achieve this goal, then today they would have provided 25MWp. The result to date is 40MWp.
When the market went from over capacity to undersupply, it would have been all too easy for each Company to protect their own interests. Not so in this case. The core values of the strategic agreement still applied.
Mr. Vaclav Prihoda and Mr Jan Buric, Joint Managing Directors of STAND-BY Europe: " We came under tremendous price pressure from the competition, but with CNPV’s help we were still able to show that we offered the best value and return for our clients. While cost is important, we could show much greater real value against the reason for making the installation in the first place. We could deliver on our corporate goal of providing customers with the best return on their investment.”
Mr Zhang Shunfu CEO & Mr. B. Veerraju Chaudary COO, CTO & Member of the Board of CNPV: “We believed in the market credibility of Stand-by Europe and their ability to really solve the customer’s selection problems. By looking at each facet of the offering, together we were able to tailor solutions to specific customers, to provide what was really important, not to simply offer something that we manufacture. This was only possible by working closely with Stand-by Europe. It was simple really; we chose the right partner, for a good or a tough market.”
The CNPV and Stand-by Europe announcement underlines their ideals. Together they have achieved much more than anticipated, and equally exciting is the prospect of their future successes based on this successful partnership.
China Solar Photovoltaic SA (NYSE Euronext: ALCNP), through its wholly-owned subsidiary, CNPV Dongying Photovoltaic Power Company Limited, is a leading multi-product solar company that produces ingots, wafers, cells & solar modules, and has strong presence in the solar photovoltaic space that designs, manufactures and supplies highly efficient and cost effective terrestrial 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 STAND-BY Europe
STAND-BY Europe executives have been active in the electronics industry for more than one decade and entered into the solar photovoltaic industry more than three years ago. STAND-BY Europe, a project developer and distribution company, is the result of constantly growing demand for renewable energy. STAND-BY Europe offers the end user services of design, project development and installation of PV Systems using high-quality Photovoltaic Modules from the well-recognized manufacturer CNPV. For further information, please visit STAND-BY Europe's website at http://www.standby-europe.com.
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
James Qi, CFO
Bill Milewski, VP-Investor Relations,
Stand-by Europe s.r.o
Jan Matusik, Sales Director
U Albrechtova vrchu 20, 15500
PRAHA 5, Czech Republic
Tel: +420 251 553 223
SOURCE: CNPV Solar Power SA and Stand-by Europe