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China Sunergy inks 35MW PV agreement

Posted: 27 Mar 2009 ?? ?Print Version ?Bookmark and Share

Keywords:photovoltaics? solar PV? agreement 35MW?

China Sunergy Co. Ltd has entered into a 35MW solar photovoltaic (PV) products framework agreement and a 5MW solar PV products sales contract under the 35MW solar photovoltaic products framework agreement with Global Service LTM. LLC (GSL) in Taiwan.

The framework agreement outlines the potential supply of up to 35MW of solar PV products from China Sunergy to GSL from March through December 2009. GSL will then supply the solar PV products to the customer in Korea.

With respect to the specific delivery during the term of the framework agreement, sales contracts will be negotiated and entered into between the parties to finalize the products to be delivered, and the quantity and price of the products. The first 5MW sales agreement has been signed, with China Sunergy to provide 5MW of solar PV products to GSL in the Q2 09 for eventual shipment to Korea.

"Signing this framework agreement represents progress in China Sunergy's recently discussed strategy of geographically diversifying our customer base," remarked Allen Ruennsheng Wang, China Sunergy CEO. "Although this framework agreement is not binding, we are pleased to have signed the first 5MW sales contract according to the mutual understanding outlined in the framework agreement, an indication of the solid foundations we have set for an ongoing partnership."

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