LUXEMBOURG, GILCHING, Germany, and DONGYING, PRC, December 21, 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 announced that it has entered into a long-term strategic partnership agreement with Donauer Solartechnik Vertriebs GmbH, a leading project developer and supplier of solar photovoltaic and solar thermal products, with over 15 years' experience in the renewable energy sector.
Under the terms of this strategic agreement, CNPV will supply Donauer with a total of 200MWp of high performance PV Modules from 2011 to 2013. Scheduled deliveries within the agreement include 40MWp during 2011 as well as 60MWp and 100MWp in 2012 and 2013 respectively.
"Elated" enthused Mr. B. Veerraju Chaudary, CNPV's COO,CTO & Member of the Board, "To be chosen from the numerous 'Tier 1' worldwide suppliers, tested against the class leading criteria utilised by Donauer is a fantastic result for us. Their stringent procedures for selection underwrite their market leading statements and successes. We are both flattered, and honoured to support Donauer in maintaining and developing this position."
Mr Donauer, CEO of Donauer Solartechnik Vertriebs GmbH: "Meticulous selection, state-of-the-art products and unfailing support allows us to 'really' exceed the customer's expectations. Our choice of CNPV as our major Asian supplier was based not on geography, but on their ability to join us in delighting the end users. The strategic agreement is evidence of our confidence that together we can offer even more assurances and investment returns to our customers and hence grow our market."
Chief Procurement Officer of Donauer Solartechnik Vertriebs GmbH, Mr Carl Freudhoefer expanded on this theme, "Our clients and their investment teams require good security on their investment, an industry leading annual return, and of course, long duration. CNPV with their high quality, high performance and European insured modules allows us to demonstrate the improvements on the buyers needs. "
From Left: Ulf Hermenau (Manager Sales-Germany CNPV), B. Veerraju Chaudary (COO, CTO and Member of the Board CNPV), Rudolf Donauer (CEO Donauer Solartechnik), and Carl Freudhoefer (CPO Donauer Solartechnik)
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 Donauer Solartechnik Vertriebs GmbH
Donauer Solartechnik is one of the leading German specialized wholesalers for solar energy products. Founded in 1995, the company now employs approximately 200 employees across Europe. The experienced staff offers system planning services for residential buildings and large-scale projects. INTERSOL is Donauer's own brand of mounting systems and solar thermal products. Long-term planning and efficiency-oriented realization, next to certified quality products, are the foundation for realizing also off-grid systems. Donauer stands for durable products, competent service and a passion for actively shaping the future of energy technology. Running the global operations from headquarters in Germany, the company delivers high-quality solar energy system components to more than 40 countries. Donauer Solartechnik has subsidiaries and sales offices in Portugal, Italy, France, Czech Republic, Belgium and Great Britain. For further information, please visit Donauer's website at http://www.donauer.eu
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 and Member of the Board
James Qi, CFO
Bill Milewski, VP-Investor Relations,
Donauer Solartechnik Vertriebs GmbH
Carl Freudhoefer, CPO
Zeppelinstr. 10, D-82205 Ghilching, Germany
SOURCE: CNPV Solar Power SA and Donauer Solartechnik Vertriebs GmbH