China Sunergy Wins 9.9MW Solar Module Contracts in Romania
Products to Be Shipped from the Company's Turkey Plant
NANJING, China, Aug. 13, 2013
NANJING, China, Aug. 13, 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 two solar module
supply contracts totaling 9.9MW with Bester Generacion ("Bester Generacion"),
an engineering, procurement and construction (EPC) company headquartered in
Spain. The solar modules will be supplied from the Company's Turkey plant to
Romania in September 2013.
Bester Generacion focuses on promoting, engineering, constructing, operating
and maintaining renewable energy projects globally, using technologies such as
photovoltaic, biomass, wind, solar thermal and mini-hydraulic. Over the past
few years, Bester Generacion had developed solar projects totaling
approximately 250MW throughout Europe, and currently has project pipeline all
over the world. Bester Generacion will deploy China Sunergy's
multi-crystalline modules in the two ground-mounted projects in Romania.
"We enjoy our cooperation with China Sunergy," said Mr. Antonio Macias
Sanchez, CEO of Bester Generacion. "The high quality, excellent service, and
technical expertise impressed us. We are actively discussing additional
cooperation with China Sunergy, and with our global pipeline of solar
projects, we look forward to combining both parties' extensive ecosystems to
offer all-in-one solutions that include design, engineering, installation,
service and financing."
Mr. Stephen Cai, CEO of China Sunergy, commented, "We are pleased to partner
with Bester Generacion in Romania, and elsewhere in Europe. Endowed with good
insolation level and supported by the government's green certificates
incentives, the solar market in Romania has grown steadily over the past two
years and should continue to offer attractive opportunities in the future. We
intend to leverage our manufacturing capacity in Turkey, as we expand our
collaboration with Bester Generacion to capture a greater share of the global
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.csun-solar.com.
Investor and Media Contacts:
China Sunergy Co., Ltd.
Phone: + 86 25 5276 6696
Asia Bridge Group Limited
Phone: + 86 10 8556 9033
Safe Harbor Statement
This announcement may contain 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 failure to maintain
its listing qualification due to, among other things, volatility in the
Company's ADS price; the Company's ability to raise additional capital or
renew existing bank borrowings as they become due to finance the Company's
activities; the Company's customers' financial condition and creditworthiness,
and their ability to settle accounts receivables; the effectiveness,
profitability, and the marketability of its products; litigations and other
legal proceedings, including any decisions by the US International Trade
Committee and Department of Commerce 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, execution of our
strategy to expand into downstream solar power businesses, 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, 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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