China Sunergy's First Shipment to Malaysia
Opens up future business opportunity in the region
NANJING, China, Jan. 31, 2013
NANJING, China, Jan. 31, 2013 /PRNewswire/ -- China Sunergy Co., Ltd. (Nasdaq:
CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module
manufacturer, today announced that the Company has signed its first solar
module contract with Pekat Solar Sdn Bhd, a leading local engineering,
procurement and construction company in Malaysia, a subsidiary of Pekat
Teknologi Sdn Bhd. The 343KW shipment is anticipated to be completed in
Pekat Teknologi Sdn Bhd is a solution provider specializing in the design,
supply, distribution and installation of lightning protection, earthing system
and surge protection technology. In 2006 Pekat Teknologi Sdn Bhd expanded its
horizons and venture into photovoltaic technology and energy LED lighting
under the name Pekat Solar Sdn Bhd. The solar modules sold to Pekat Solar Sdn
Bhd by the Company will be installed on the rooftop of a real estate property
in Kuala Lumpur which was developed by a well-known Malaysian real estate
Mr. Wee Chek Aik, Executive Director of Pekat Teknologi Sdn Bhd noted: "We are
honored to establish this solid partnership with China Sunergy. The solar
modules will be used for the first PV rooftop project of this Malaysian real
estate developer which is also planning to build multi-megawatt rooftop PV
system in the near future. We believe this project among others will present
more business opportunities for both of us. We can work together to expand our
market share in Malaysia."
Malaysia's tropical location enables it to enjoy rich solar energy potential.
According to the Solarbuzz research report, buoyed by the nation's Renewable
Energy Act 2011, Malaysia's new FIT has generated considerable commercial
interest and the country is poised to significantly increase its PV generation
over the next few years. Malaysia has set a goal of achieving 10% renewable
generation by 2020, with as much as 1GW coming from PV generation.
Mr. Stephen Cai, CEO of China Sunergy concluded, "Currently, our penetration
into Southeast Asia markets is not significant enough, with less than 1% in
the last quarter coming from Indonesia and Philippines and none before now
from Malaysia. We are not only focusing on the traditionally important solar
markets. We also endeavor to recognize the business potential in these
Southeast Asian countries We will work hard to enlarge customers base in
budding markets and reinforce the collaboration with original local partners
to grasp more business opportunities there in 2013."
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (NASDAQ:CSUN) designs, manufactures and delivers high
efficiency solar cells and modules to the world from its production centers
based in China and Turkey. China Sunergy also invests in high potential solar
projects. Founded in 2004, China Sunergy is well known for its advanced solar
cell technology, reliable product quality, and excellent customer service.
For more information, please visit http://www.chinasunergy.com .
China Sunergy Co., Ltd.
Phone: +86 25 5276 6696
Hong Kong Hong Kong
Ginny Wilmerding Annie Choi
Phone: + 852 3512 5000 Phone: + 852 3512 5000
Email: firstname.lastname@example.org Email: email@example.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, demand for and selling prices of
the Company's products, execution of our strategy to expand into downstream
solar power businesses, general economic and business conditions; 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. 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, it cannot assure you that its
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.
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