NANJING, China, Jan. 12, 2011 /PRNewswire-Asia/ -- China Sunergy Co., Ltd., (Nasdaq: CSUN) ("China Sunergy" or the "Company") a specialized solar cell and module manufacturer based in Nanjing, China, announced today that it has won a 1.1 MW solar module supply contract in Switzerland for 2011.
Under the agreement, China Sunergy will supply Sunergic S.A., one of the leading solar system integrators in Switzerland, with the solar modules for up to 1.1 MW for Services Industriel de Geneve (SIG), a Swiss utility.
"We are very pleased to partner with Sunergic S.A. on one of the largest PV solar projects in Switzerland," said Mr. Stephen Zhifang Cai, CEO of China Sunergy. "This partnership demonstrates our concerted efforts to explore new markets. We believe there will be more opportunities like this in the following months as a result of our strategy."
Nico Lugt, Sunergic's CEO said, "Sunergic is excited to have won the bid for the SIG solar project again this year, although global competition continues to be very strong. Our cooperation with China Sunergy differentiates us from other companies in the space and guarantees project quality. With this partnership, we are able to remain among the leading distributors in the Swiss solar market. We look forward to working with China Sunergy on more projects in the coming years."
About SUNERGIC S.A:
Sunergic S.A is a limited company registered in Vevey/Switzerland under Swiss law, created by private investors coming from various fields. The company's mission is to supply products and services related to renewable energies and sustainable development, with a focus on PV and electrical mobility.
Through its partnership with China Sunergy and large Swiss electricity suppliers, Sunergic remains a leading PV distributor and integrator in Switzerland. Sunergic is also developing services related to electric mobility, EVs and fuel cells fuelled by PV systems. For more information, please visit http://www.sunergic.com.
About China Sunergy Co., Ltd.:
China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilize crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect, and assembles solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas module manufacturers, system integrators, and solar power systems for use in various markets.
For more information please visit http://www.chinasunergy.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 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 ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; litigations and other legal proceedings; 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, 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, 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.
SOURCE China Sunergy Co., Ltd.