CNPV Signs 150MWp Extended Supply Agreement with Stand-by Europe

USA - English

• USA - English

LUXEMBOURG and DONGYING, China, Oct. 28 /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 and Stand-by Europe, a leading Czech based international project developer and distribution company, today announced that they have entered into an extended long-term strategic partnership agreement for the supply of 150MWp high performance PV modules from 2011 to 2013. This agreement was signed in the presence of the local government, Sinosure and China Development Bank officials on October 22, 2010 in Dongying City.

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Under the terms of this agreement, CNPV will supply Standby Europe with 40MWp of PV modules scheduled for delivery in 2011 and the remaining 50MWp and 60MWp are scheduled for deliveries in 2012 and 2013, respectively.

During Stand-by Europe's recent visit to a CNPV facility October 22, Mr. Vaclav Prihoda and Mr Jan Buric, Joint Managing Directors of Stand-by Europe expressed their commitment to continued co-operation with the Company: "The introduction of CNPV to our market has proven an immense success. Surpassing our initial anticipated volumes we have proven that our market has accepted CNPV as the PV module supplier of choice. Notably achieving a certain price premium over other brands, together we have continued to validate the CNPV/Stand-by Europe offering as 'The' most cost effective solution as well as the largest return generated on the capital deployed. Most of our competitors in the local market are looking to 2011 with reductions in scale. Due to our relationship with CNPV, we (Stand-by Europe) are increasing projections as exhibited in our increased volumes within this agreement."

Mr Zhang Shunfu CEO & Mr. B. Veerraju Chaudary COO, CTO & Member of the Board of CNPV commented, "We are equally delighted with our collective performance to date, and our ability to increase our presence within Stand-by Europe's markets. The mutual support and the continued presentation of facts, backed up by independent tests have allowed us to grow in this highly competitive market. Our investment in technological development and systems controls are allowing us to dramatically increase market share. We know this only comes from the fact that the market can see the effect on project financials by using the Stand-by Europe/CNPV offering."

Clearly both partners are delighted with the progress to date, and on the topic of the future: "Satisfy the customer with sustainable solutions that are improvements on what others can 'really' offer and deliver it. They will then come back for more," said Mr Jan Matusik, Stand-by Europe's Sales Director."

About 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. Please visit CNPV's website at http://www.cnpv-power.com .

About Stand-by Europe

Stand-by Europe, a project developer and distribution company, holds 10% market share of the total commercial installations in the Czech Republic. Stand-by Europe is the sole distributor for CNPV's PV modules in their home market. For further information, please visit Stand-by Europe's website at http://www.standby-europe.com .

    Contact:

    CNPV Solar Power SA
     B.Veerraju Chaudary, COO, CTO & Member of the Board
     Phone: +86-13656-473355
     [email protected]

    Stand-by Europe s.r.o
     Jan Matusik, Sales Director
     U Albrechtova vrchu 20, 15500, Praha 5 Czech
     Phone: +420-251-553-223
     [email protected]

SOURCE CNPV Solar Power SA; Stand-by Europe