LUXEMBOURG and DONGYING, PRC, January10,2011/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 the recent inauguration and hand-over of the first largest utility scale 7MW solar power project in the Shandong Province.
The inauguration on the 29th of December 2010 was presided over by Mr. Li Jinkun, Deputy Mayor of Dongying City. Alongside him were other senior provincial and city government officials who have also provided support from the point of conception. Upon handing over the solar power project to the Chinese nation he enthused, “This project has a striking impact for our Country; not only will we reap the environmental benefits, but also the commercial advantages. Our support for future projects is assured, as we develop and promote green energy for our nation and region. I applaud our collective efforts on this positive progress.”
As part of the National Golden Sun Demonstration Project, the project was designed, developed and implemented by CNPV to fully demonstrate the real life capability of solar power generation. Utilising CNPV high power, high efficiency Premium modules that the Company produces, the 7MW rating significantly exceeds the trial projects previously installed as proof of concept.
This project, with an estimated investment of $25 million, is particularly suited to promote Shandong Province and the City of Dongying as leaders at the forefront of green energy production, as well as promoting the specific benefits of solar PV power generation. The solar power project’s electricity is enough for 8,000 homes and is produced without the 8,000 tonnes per year of carbon dioxide released or 4,000 tonnes per year of coal consumption that accompanies a traditional, coal-fired generator’s equivalent output.
Mr. Zhang Shunfu CEO & Mr. B. Veerraju Chaudary COO, CTO & Member of the Board of CNPV jointly said, “Our success in developing and exhibiting this technology is a major milestone on the road of national solar photovoltaic power acceptance. CNPV is very pleased and honoured to play a leading role in the development of the first largest utility scale on-grid 7MW solar PV power plant in Shandong Province, which represents a major milestone in the development of China's renewable energy industry. We applaud the decisive steps taken by China's central government and local government to support sustainable energy development and establish a greener economy in China. With closer cooperation between strategic energy investors, power developers and solution providers, we are confident that solar energy will become increasingly cost effective and achieve grid parity in many locations over the next few years.' We are supremely grateful to our strong internal team and the outstanding unswerving support from leading government officials. Together we have demonstrated that our City can play a principal role in the world’s green energy transformation and are subsequently now actively exploring our next and bigger venture.”
CNPV Inauguration Ceremony of Shandong First Largest Utility Scale 7MW Solar Power Project in Dongying City
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
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
Bill Milewski, VP-Investor Relations,
SOURCE: CNPV Solar Power SA