CNPV Declares an MOU with International EPC Company

LUXEMBOURG and DONGYING, China, Aug. 19, 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, announced today that they have signed an MOU and Strategic Partnership agreement with SolarTec Group.

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The wide scope agreement declares terms of a Joint Venture on specific projects as well as a Strategic Partnership to supply volumes of the order of 300MW over a three year period. Twenty MW is expected to be delivered this year with the balance in the following two years. The geographical scope is focused on North America, Europe, Africa and Asia.

SolarTec Group is a New Jersey Company headquartered in Denver, Colorado, and provides multi-discipline services for industrial, commercial, and utility scale projects, which include Engineering, Procurement and Construction (EPC), performance validations and commissioning, as well as consulting services to developers, construction companies, and manufacturers. One of the co-founders is Dr. Neway Argaw, a recognized, premier solar expert, who has over 100MW of completed installations and 800MW of solar PV designs to his credit.

"We are constantly looking at the performance boundaries of products and projects. Not only does this serve our consulting clients, it also allows us to lead the way for our specifying and purchasing clients," stated Dr. Neway Argaw, CEO SolarTec Group, "Our scope of investigations can cover a wide range of topics but ultimately return to reduction in customer risk, better efficiency and improved cost effectiveness. When evaluating CNPV, we quickly established that their performance boundaries were notably higher than industry standards, and uniquely, they combined these individual class leading elements within one offering."  

Mr B. Veerraju Chaudary, CNPV's COO and CTO proffered further enthusiasm: "Clearly we are delighted to be validated, chosen and then involved with such a credible company and individuals as SolarTec and Dr Argaw. To be able to further justify our belief in CNPV's solution offering, after such an intensive exploration, is both an honour and extremely rewarding. Our focus on providing the real world value outside of the specification sheets has helped us to confidently enter into the agreements with SolarTec and centre our attention on collectively leading the solar installation market in the coming years. Of course the journey does not stop here. With SolarTec's additional input we foresee greater developments even more finely tuned to the future market needs."

About CNPV

CNPV Solar Power SA (NYSE Euronext: ALCNP) 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

About SolarTec Group.

The SolarTec strategy is to provide a single source contract to customers, which not only reduces management costs but streamlines the flow of information and project communication. We look to the optimum design to maximize the solar system energy production at the lowest possible cost for the best return on the investment to the system owner. Our strengths include the ability to in house manufacture many of the ancillary components, significant purchasing power coupled with the strength of our strategic partners, access to union and non-union labor and comprehensive services addresses located throughout America, Europe, Africa and Asia.    

SOURCE CNPV Solar Power SA