October 27, 2009

Dongying, China: CNPV Secures 100MW Module Order; Also Receives Approval for 10MW China Project

Chinese ingot, wafer, cell and module manufacturer, CNPV has entered into a long term strategic sales agreement with Solar Energy Trading GmbH (SET), a well known German Project development and distribution company.

Under the terms of this strategic agreement, CNPV will supply SET with a total of 100MWp of PV Modules starting from 2010 to 2012, which includes 20MWp of scheduled delivery during 2010 at fixed prices. However the price will be reviewed mutually on quarterly basis if the market price falls or rises with reference to the fixed prices. The remaining 35MWp and 45MWp scheduled delivery during 2011 and 2012 respectively.

"We are very pleased to announce this strategic partnership with SET, to further strengthen the existing partnership. This new contract will significantly help to grow new projects in Germany, Belgium and other European solar markets," stated Mr. Zhang Shunfu, CNPV's CEO & Mr. B.Veerraju Chaudary, CNPV's COO, CTO & Member of the Board. "We look forward to expanding our relationship with one of our loyal strategic partners SET by providing high quality modules, premium service and leading low cost industry platform."

"SET is proud of this new strategic sales agreement with CNPV. We consider this as a continuation of our good relationship with CNPV that supplies SET and its customer base with the best in class solar technology," commented Mr. Helmut Schwarzer, CEO, Mr. Juergen Klaas, GM and Ms.Narjiss Conrads, COO of SET GmbH. "We aim to provide our customers maximum value with our products and services cooperating with top tier partners like CNPV is one of our principal strategies for achieving these goals in order to secure customers on a long-term basis."

Separtely, CNPV has received an official approval in response to the company's application to design and build a 10MWp grid-connected power plant in Dongying City from the Shandong Development & Reform Commission.

The 10MWp grid connected power plant, which will occupy an area of around 400,000 square meters on the saline alkali land beside the sea in the eastern district economic development zone in Dongying, will be constructed from Q12010 to Q22010. Upon completion, it will be the first 10MWp large-scale power plant in Dongying and the whole province of Shandong. Thanks to supportive policies, the government will provide 50% of the necessary capital. The project has been submitted for National Golden Sun Demonstration Project approval through the Shandong Development & Reform Commission (SDDRC).

Further details about: CNPV and Solar Energy Trading GmbH (SET)