LUXEMBOURG and DONGYING, PRC, October 28 /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, a leading Czech based international project developer and distribution company, today announced that they have entered into an extended long-term strategic partnership agreement for the supply of 150MWp high performance PV modules from 2011 to 2013. This agreement was signed in the presence of the local government, Sinosure and China Development Bank officials on October 22, 2010 in Dongying City.
Under the terms of this agreement, CNPV will supply Standby Europe with 40MWp of PV modules scheduled for delivery in 2011 and the remaining 50MWp and 60MWp are scheduled for deliveries in 2012 and 2013, respectively.
During Stand-by Europe's recent visit to a CNPV facility October 22, 2010, Mr. Vaclav Prihoda and Mr Jan Buric, Joint Managing Directors of Stand-by, Europe expressed their commitment to continued co-operation with the Company: "The introduction of CNPV to our market has proven an immense success. Surpassing our initial anticipated volumes we have proven that our market has accepted CNPV as the PV module supplier of choice. Notably achieving a certain price premium over other brands, together we have continued to validate the CNPV/Stand-by Europe offering as 'The' most cost effective solution as well as the largest return generated on the capital deployed. Most of our competitors in the local market are looking to 2011 with reductions in scale. Due to our relationship with CNPV, we (Stand-by Europe) are increasing projections as exhibited in our increased volumes within this agreement."
Mr Zhang Shunfu CEO & Mr. B. Veerraju Chaudary COO, CTO & Member of the Board of CNPV commented, "We are equally delighted with our collective performance to date, and our ability to increase our presence within Stand-by Europe's markets. The mutual support and the continued presentation of facts, backed up by independent tests have allowed us to grow in this highly competitive market. Our investment in technological development and systems controls are allowing us to dramatically increase market share. We know this only comes from the fact that the market can see the effect on project financials by using the Stand-by Europe/CNPV offering."
Clearly both partners are delighted with the progress to date, and on the topic of the future: "Satisfy the customer with sustainable solutions that are improvements on what others can 'really' offer and deliver it. They will then come back for more," said Mr Jan Matusik, Stand-by Europe's Sales Director."
Contract Signing Ceremony Picture: CNPV Leadership Team, Stand-by Europe Leadership Team, CDB, Sinosure, Dongying Government Officials
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. CNPV 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 Stand-by Europe
Stand-by Europe, a project developer and distribution company, holds 10% market share of the total commercial installations in the Czech Republic. Stand-by Europe is the sole distributor for CNPV's PV modules in their home market. 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
Phone: +420 251 553 223
SOURCE: CNPV Solar Power SA and Stand-by Europe