CNPV Signs Multi-phase Tripartite Co-operation Agreement

LUXEMBOURG and DONGYING, China, May 16, 2012 /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 co-operation between China Guangdong Nuclear Solar Energy Development Company Limited (CGN-SEDC), Lijin Peoples Government, and themselves, encompassing a multi-phase approach to solar photovoltaic plants introduction within the Shandong area.

(Logo: http://photos.prnewswire.com/prnh/20081103/CNM010LOGO)

The scope of the co-operation allows for up to 2.5GW of installations to proceed around the Bohai Rim within the next 5 years, and is initiated with commitment of 100MWp installed in three stages of 30MWp, 30MWp and 40MWp sequentially.

Utilising the resources of the three organizations, solar PV installations will be introduced within Shandong province (PRC) on land unfit for other purposes due to high salinity and alkalinity. The high levels of irradiance complete with the high power output of the CNPV systems, the detailed project design and installation management skills, and the collaborative benefits of the organizations working together, ensure that a profitable return can be achieved while implementing a program of beneficial land use, and the provision of clean power for the local residents.

Mr. Zhao Shaoqing, the Executive Deputy County Magistrate of the People's Government of the Lijin was enthusiastic about the actions and possibilities; "Maximising the use of our resources to enhance the lives of our regional inhabitants is always our goal. This co-operation fulfills our remit exactly, and is further enhanced by the superiority of our collaborative partners ensuring we will generate a higher benefit for a longer period of time than other considered options."

"Using the best products and services for clean energy provision, within a region that can benefit economically and at the same time delivering a substantial profit return for the SA SAC (State-owned Assets Supervision and Administration Commission-PRC) ensures we can implement more projects based upon the success of projects previously introduced," confirmed by an individual in charge of CGN-SEDC. "Our international exposure to competing providers allows us to evaluate potential options in great depth. The co-operation with Lijin Peoples Government and CNPV delivers an initial project, and the opportunity for further projects, with substantially greater benefits than most projects we review. We are delighted to be involved in such a definitive opportunity and participate in the successful delivery."    

Mr. Zhang Shunfu, CNPV's CEO and Mr Bypina Veerraju Chaudary, CNPV's COO & CTO fervently added, "We are elated to be part of this primary example where all participants, both direct and indirect, are benefitting from our collaborative agreement. We are particularly excited to be providing solutions for our neighbours while at the same time demonstrating further, our product's and service's qualities to an international operator in CGN. Their process of selection was completely indicative of the understanding of value creation from the use of solar PV; when added to the support of Lijin county government, the project success is assured. We are proud to be a part of this ongoing project and look forward to our ability to proclaim further successes within the scope of this co-operation."    

With an ever increasing focus to deliver more for less, this collective agreement is demonstrating the capability of those involved to deploy their skills and services to fully unlock the value that is possible. By initiating a value based model, each participant, including the end user, is benefiting in a greater magnitude than if a price model was in place. Further, the value model is ultimately sustainable, and increases with potency as each new project improves from the lessons and alignment that the sharing companies induce.        

CNPV

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. For further information, please visit CNPV's website at http://www.cnpv-power.com

CGN Solar Energy Development Company Limited 

China Guangdong Nuclear Solar Energy Development Company is a clean energy enterprise established in 1994, as a subsidiary of China Guangdong Nuclear Power Company Limited. Its remit is dedicated to research and investment of advanced solar technology and to be a top developer of solar energy in the world. By the end of 2020, CGN-SEDC plans to construct on-grid solar power projects, promoting solar power development and to be leading enterprise in the industry.

Lijin Peoples Government

Lijin County belongs to Dongying city and is located in Shandong province, PRC. Its government, oversees and supports the deployment of multiple assets to stimulate the local economy and enhance the prospects of the local population.

CNPV Solar Power SA
Bypina Veerraju Chaudary, Chief Operating Officer
+86-13656-473355 
chaudary@cnpv-power.com 
ir@cnpv-power.com

SOURCE CNPV Solar Power SA



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