LUXEMBOURG and NEW YORK, Nov. 3, 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, and Soltas Energy Corporation, a national solar-power solutions provider, located in New York, recently inked a contract for the supply of 175.5MWp of CNPV's premium range modules.
The agreement outlines the purchase of solar panels by Soltas Energy from CNPV Solar Power, equal to 175.5 megawatts of solar power over a 27-month time frame starting from October 2011.
"We feel confident working with CNPV," Soltas Energy's CEO Andrew Barron Worden said. "Because of our long-term relationship with CNPV, we have a comprehensive understanding of the company. Based on CNPV's corporate achievements and goals and the quality of their products, processes and technology, we feel they are an extremely solid supply partner. The quality and competitive commercials of CNPV is unmatched. This is the type of partnership that advances Soltas Energy's model."
"Leverage on this scale, has immense value," said Mr. Zhang Shunfu, CNPV's CEO and Mr Bypina Veerraju Chaudary, CNPV's COO. "Making solar an attainable and practical solution to energy provision with this level of expertise and reach is a rare commodity. We are proud to meet Soltas Energy's high standards, especially when compared to some of the more well known, larger brands. We fully subscribe to Soltas Energy's commitment to achieving 1GWp of installations by 2016, and are particularly proud to be associated with such a credible, connected and capable company. Together with Soltas Energy, we can positively impact the solar PV market."
With these positive outcomes for both companies, it is
easy to overlook the real winners in the Soltas Energy
business model; Commercial businesses, real estate
developers, utility companies, government entities, military
bases, and schools can enjoy the benefits of solar power
without capital cost.
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. Reliability &
longevity are built into our world-class crystalline solar
photovoltaic modules, which undergo rigorous internal tests
and external certifications (IEC61215, IEC61730, UL, and CE)
to ensure peak performance and safety. For further
information, please visit CNPV's website athttp://www.cnpv-power.com
About Soltas Energy Corporation
Soltas Energy Corporation is a solar-energy solutions
provider that delivers clean, renewable energy to commercial
enterprises. For more information about Soltas Energy,
visitwww.soltasenergy.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 fact in this
announcement are forward-looking statements, including but
not limited to, CNPV's ability to raise additional
capital to finance its activities; the effectiveness,
profitability, and marketability of its products; the future
trading of the securities 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; and other risks detailed in
the Company's filings with the Euronext in Paris. These
forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the companies
and the industry. 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, they cannot assure
you that their expectations will turn out to be correct, and
investors are cautioned that actual results may differ
materially from the anticipated results.
For more information, please contact:
CNPV Solar Power SA
Bypina Veerraju Chaudary, Chief Operating officer
Phone: +86-13656-473355,
Email: chaudary@cnpv-power.com
E-mail: ir@cnpv-power.com
Soltas Energy Corporation
Alana Chain, PR Manager
Phone: +1 212 359 0208
Email: achain@soltasenergy.com