LUXEMBOURG/DONGYING, PR China, June 29, 2010 /PRNewswire-Asia/-- CNPV Solar Power SA, a leading integrated manufacturer of solar photovoltaic products, today announced that it has entered into a long-term sales agreement with Inovasol, a French leading photovoltaic company in roof top project development, installation and distribution company.
Under the terms of this agreement, CNPV will supply Inovasol with a total of 46MWp of high performance PV Modules from 2010 to 2012, which includes 6MWp of scheduled delivery during 2010. The remaining 15MWp and 25MWp are scheduled for delivery in 2011 and 2012 respectively.
"We are excited to announce this long term sales agreement with Inovasol, a partner that shares our commitment to superior value, and customer satisfaction," said B.Veerraju Chaudary, CNPV's COO, CTO & Member of the Board. This agreement will bring CNPV's high performing modules to the promising new French market while enhancing CNPV's brand and presence in the region. This reflects the continued strong demand and representation for our best-in-class solar products in major solar markets worldwide."
"CNPV has an excellent reputation for delivering premium quality, high power output PV Modules and Partnering with CNPV provides our customers with access to one of the industry's emerging success stories," said Mr. Xavier Morellec, CEO of Inovasol. CNPV's focus on high quality manufacturing processes delivers a truly world class, competitive offering to our market. This new partnership is a natural fit with Inovasol's business model, providing exceptional value to our customers. We are looking forward to enhancing the CNPV brand in France over the coming years."
About CNPV
CNPV Solar Power SA (NYSE Euronext: ALCNP), through its wholly-owned subsidiary, CNPV Dongying Photovoltaic 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 that 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 Inovasol
Inovasol is a leading player in photovoltaic solar plant engineering, development, production, installation and distribution in France. Inovasol has achieved continuous growth in recent years and today enjoys considerable experience in national projects. The Company attaches great importance to the quality of its products and delivery of its services to customers and business partners.For further information, please visit Inovasol website at: http://www.inovasol.fr
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:
B.Veerraju Chaudary,
COO, CTO & Member of the Board
CNPV Solar Power SA
Direct Land Line: +86-546-7795053,
Mobile: +86-13656-473355,
Email: chaudary@cnpv-power.com
Jane Liu, Director-Investor Relations & Financing
CNPV Solar Power SA
Direct Land Line: +86-546-7795078
Mobile: +86-15318-358353,
Email: jane.liu@cnpv-power.com
Xavier Morellec, CEO
69, rue Chaptal
22000 SAINT BRIEUC, FRANCE
Tel: +33-296744203,
Fax: +33-296580294
Email: xavier.m@inovasol.fr
SOURCE: CNPV Solar Power SA and Inovasol
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