LUXEMBOURG, PARIS and DONGYING, China, March 3, 2011 /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 that it has entered into a long-term strategic partnership agreement with Sun'R SAS, a leading project developer and IPP of solar photovoltaic projects.
The three year partnership ensures that CNPV are the supplier to meet the total contracted and anticipated demand for Sun'R's consumption of PV modules. The initial consumption is 14MWp in 2011, with a potential to supply a further 4MWp during the same period. Additionally, 2012 and 2013 volumes are not yet finalised, relying heavily on market development conditions, but are anticipated to be significantly in excess of 2011. Sun'R's engineering, procurement and construction approach, together with CNPV's financially driven solutions, add weight to the belief that the coming years performance will be superlative.
"Performance and quality of modules are key for us, considering our long term investment business," said Mr Antoine Nogier, CEO of Sun'R SAS. "It allows us to fulfil our goal of being an accelerator of the introduction of solar photovoltaic energy within France. Working with CNPV during 2010 allowed us to demonstrate outstanding performance in both of these areas. It therefore made strategic sense for us to align together to achieve our mutual goals. We are delighted to have found a Company who can provide us with the solutions we require and whose business objective and ethics so closely match our own. Moreover, we feel confident that CNPV will become a major player in the following years in the PV industry, technically speaking as well as financially speaking."
B. Veerraju Chaudary, COO, CTO & Member of the Board of CNPV: "Assuring decision makers that their capital investment is safe, and will outperform alternate investment opportunities is part of our daily activities and strategy for success. With Sun'R SAS, we found a Company that is achieving this goal from its qualified and experienced team, their well earned market credibility, and their 'total ownership and accountability' strategy. It is a great honor to be selected by such an esteemed and respected Company, particularly when they are professing the same understanding of, and delivering to, the customers 'real needs'. We are extremely excited about the enhanced prospects with Sun'R in the coming years."
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. Please visit CNPV's website at http://www.cnpv-power.com.
Generating clean, renewable energy closer to the consumer, Sun'R is France's leading 100% Photovoltaic IPP (Independent Power Producer). Providing design, development and financing, as well as O&M, they deliver upon their ethical and financial strategy of hastening the introduction of renewable energy to the benefit of consumers and investors. For further information please visit Sun'R's website at http://www.sunr.fr.
For more information, please contact:
CNPV Solar Power SA
B. Veerraju Chaudary, COO, CTO and Member of the Board
Emeline Etienne, Director Operations
7 rue de Clichy, 75009 Paris, France
SOURCE CNPV Solar Power SA