LUXEMBOURG and NEW YORK, Nov. 3, 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, and Soltas Energy Corporation, a national solar-power solutions provider, located in New York, recently inked a contract for the supply of 175.5MWp of CNPV's premium range modules.
The agreement outlines the purchase of solar panels by Soltas Energy from CNPV Solar Power, equal to 175.5 megawatts of solar power over a 27-month time frame starting from October 2011.
"We feel confident working with CNPV," Soltas Energy's CEO Andrew Barron Worden said. "Because of our long-term relationship with CNPV, we have a comprehensive understanding of the company. Based on CNPV’s corporate achievements and goals and the quality of their products, processes and technology, we feel they are an extremely solid supply partner. The quality and competitive commercials of CNPV is unmatched. This is the type of partnership that advances Soltas Energy's model."
"Leverage on this scale, has immense value," said Mr. Zhang Shunfu, CNPV's CEO and Mr Bypina Veerraju Chaudary, CNPV's COO. "Making solar an attainable and practical solution to energy provision with this level of expertise and reach is a rare commodity. We are proud to meet Soltas Energy's high standards, especially when compared to some of the more well known, larger brands. We fully subscribe to Soltas Energy's commitment to achieving 1GWp of installations by 2016, and are particularly proud to be associated with such a credible, connected and capable company. Together with Soltas Energy, we can positively impact the solar PV market."
With these positive outcomes for both companies, it is easy to overlook the real winners in the Soltas Energy business model; Commercial businesses, real estate developers, utility companies, government entities, military bases, and schools can enjoy the benefits of solar power without capital cost.
From Left: Mr. Bypina Veerraju Chaudary (COO, CNPV), Mr. Andrew Barron Worden (CEO, Soltas Energy)
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 Soltas Energy Corporation
Soltas Energy Corporation is a solar-energy solutions provider that delivers clean, renewable energy to commercial enterprises. For more information about Soltas Energy, visit www.soltasenergy.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
Bypina Veerraju Chaudary, Chief Operating officer
Soltas Energy Corporation
Alana Chain, PR Manager
Phone: +1 212 359 0208
SOURCE: CNPV Solar Power SA and Soltas Energy Corporation