NANJING, China, Jan. 17, 2012 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (NASDAQ: CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module manufacturer, today announced that a solar PV project in Guajarat, India including China Sunergy's solar panels was successfully connected to the grid. The 25 MW Project, of which 13 MW of high quality solar modules were supplied by China Sunergy, was completed in partnership with Visual Percept Solar Projects Pvt. Ltd ("Visual Percept").
China Sunergy entered into its strategic partnership with Visual Percept, one of the leading solar project developers in India, last year. The CSUN solar modules deployed in the newly commissioned Project were supplied to Visual Percept in August 2011.
Stephen Cai, China Sunergy's CEO commented, "The Indian solar industry has huge potential, and the country is keen to expand its alternative energy usage. We are very committed to this market, and are very pleased that this project is now up and running, which is a testament to our reliable product quality. China Sunergy is not only further diversifying its geographic focus but also endeavoring to create better life for people all across the globe with our value-added products."
"China Sunergy's high performance products and dedicated service strongly impressed us. We look forward to working with China Sunergy on future projects to realize India's National Solar Mission," said Mr. Akash Bhanshali, Director of Visual Percept's parent company.
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. 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 CSUN then assembles these solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas EPCs, system integrators, and solar power systems for use in various markets. For more information, please visit our website at http://www.chinasunergy.com.
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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, including the ultimate outcome of any decisions by the ITC and DOC 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, 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.