LUXEMBOURG / DONGYING, PRC, October 29, 2010 /PRNewswire-Asia/--CNPV Solar Power SA, a public limited liability company organized under the laws of the Grand Duchy of Luxembourg and AE Photonics, a leading project development and distribution company based in Dresden, Germany jointly, today announced that they have entered into an extended long-term strategic partnership agreement for the supply of 300MWp PV modules from 2011 to 2013.
Under the terms of this agreement, CNPV will supply AE Photonics with 60MWp of high performance PV modules during 2011. The remaining 96MWp and 144MWp are scheduled for delivery in 2012 and 2013, respectively. The agreement signing in the presence of the local Government, Sinosure and China Development Bank officials is the largest contract in the history of both companies. In fact it is an extension of the existing successful relationship with a proven ability to satisfy end customers with reliable, cost effective solutions.
"Success breeds success" quoted B. Veerraju Chaudary, COO of CNPV. We are thrilled to continue our strong partnership with AE Photonics. This extension is strategic for us; aligning ourselves with a leading international energy developer, and together jointly seizing market opportunities. “The extended contract will significantly help us to grow new projects in the solar market worldwide. The combination of CNPV’s supply of tier 1 high quality PV modules with AE Photonics’ ever growing solar project expansion further increases our brand recognition internationally and expands our market share.” Mr Zhang Shunfu CEO & Mr. B. Veerraju Chaudary COO, CTO & Member of the Board of CNPV together publically proclaimed "We look forward to continuing to expand and strengthen our relationship with one of our most loyal and strategic partners".
Mr. Marco Lamsouguer, CEO of AE Photonics responded "AE Photonics is proud of continuing our trusted partnership with CNPV. We have always held that it is important for leading solar players to work together in order to supply our customers with state-of-the-art PV systems, it was therefore natural for us to extend our cooperation with CNPV and develop our agreements and interactions to the next level. CNPV has a proven reputation for delivering premium quality PV modules, as evidenced in our own experience. We are also proud to say that several recent independent testing reports in Europe support our selection of the CNPV products for AE’s growth plan. We have spent several years reviewing potential long term strategic partners, and we can confidently say we have found and committed to the best in the world".
Both fervent Companies, celebrating their historic success by committing to greater future success were clear in their message "It's the proven facts that make the difference. Together, by providing the "real" customer value, our solar PV future opportunities grow for the benefit of all involved."
Contract Signing Ceremony Picture: CNPV Leadership Team, AE Photonics 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 AE Photonics GmbH & Co. KG
AE Photonics is a leading European photovoltaic integrator, a supplier of photovoltaic power plants and components on a worldwide basis. The firm covers the entire spectrum, from planning to the turnkey handover of photovoltaic installations. AE Photonics has achieved continuous growth of nearly 300% in recent years and today enjoys considerable experience in national & international projects including planned 250MW of new business coming from the solar market worldwide. For further information, please visit AE Photonics GmbH & Co. KG website at: http://www.ae-photonics.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,
Marco Lamsouguer, CEO
AE Photonics GmbH & Co. KG
Loschwitzer Str. 37, 01309 Dresden, Germany
SOURCE: CNPV Solar Power SA and AE Photonics GmbH & Co. KG