China Sunergy Wins 9.9MW Solar Module Contracts in Romania Products to Be Shipped from the Company's Turkey Plant
NANJING, China, Aug. 13, 2013 /PRNewswire/ -- China Sunergy Co., Ltd. (NASDAQ: CSUN) ("China Sunergy" or "the Company"), a specialized solar cell and module manufacturer, today announced that the Company has signed two solar module supply contracts totaling 9.9MW with Bester Generacion ("Bester Generacion"), an engineering, procurement and construction (EPC) company headquartered in Spain. The solar modules will be supplied from the Company's Turkey plant to Romania in September 2013.
Bester Generacion focuses on promoting, engineering, constructing, operating and maintaining renewable energy projects globally, using technologies such as photovoltaic, biomass, wind, solar thermal and mini-hydraulic. Over the past few years, Bester Generacion had developed solar projects totaling approximately 250MW throughout Europe, and currently has project pipeline all over the world. Bester Generacion will deploy China Sunergy's multi-crystalline modules in the two ground-mounted projects in Romania.
"We enjoy our cooperation with China Sunergy," said Mr. Antonio Macias Sanchez, CEO of Bester Generacion. "The high quality, excellent service, and technical expertise impressed us. We are actively discussing additional cooperation with China Sunergy, and with our global pipeline of solar projects, we look forward to combining both parties' extensive ecosystems to offer all-in-one solutions that include design, engineering, installation, service and financing."
Mr. Stephen Cai, CEO of China Sunergy, commented, "We are pleased to partner with Bester Generacion in Romania, and elsewhere in Europe. Endowed with good insolation level and supported by the government's green certificates incentives, the solar market in Romania has grown steadily over the past two years and should continue to offer attractive opportunities in the future. We intend to leverage our manufacturing capacity in Turkey, as we expand our collaboration with Bester Generacion to capture a greater share of the global solar market."
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (NASDAQ: CSUN) designs, manufactures and delivers high efficiency solar cells and modules to the world from its production centers based in China and Turkey. China Sunergy also invests in high potential solar projects. Founded in 2004, China Sunergy is well known for its advanced solar cell technology, reliable product quality, and excellent customer service.
For more information, please visit http://www.csun-solar.com.
Investor and Media Contacts:
China Sunergy Co., Ltd.
Phone: + 86 25 5276 6696
Asia Bridge Group Limited
Phone: + 86 10 8556 9033
Safe Harbor Statement
This announcement may contain 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 facts in this announcement are forward-looking statements. These forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company and the industry, and involve known and unknown risks and uncertainties, including but not limited to, the Company's failure to maintain its listing qualification due to, among other things, volatility in the Company's ADS price; the Company's ability to raise additional capital or renew existing bank borrowings as they become due to finance the Company's activities; the Company's customers' financial condition and creditworthiness, and their ability to settle accounts receivables; the effectiveness, profitability, and the marketability of its products; litigations and other legal proceedings, including any decisions by the US International Trade Committee and Department of Commerce on the petitions filed; the economic slowdown in China and elsewhere and its impact on the Company's operations; demand for and selling prices of the Company's products, execution of our strategy to expand into downstream solar power businesses, the future trading of the common stock 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; future shortage or availability of the supply of raw materials; impact on cost-competitiveness as a result of entering into long-term arrangements with raw material suppliers and other risks detailed in the Company's filings with the Securities and Exchange Commission. 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, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
SOURCE China Sunergy Co., Ltd.