September 25, 2008

Nanjing, China: China Sunergy Enters into Cell Agreement

Nanjing based China Sunergy has entered into a seven year sales agreement with Wuxi Guofei Green Energy Source Co., Ltd., a Chinese solar energy company.

Under the Agreement, China Sunergy will supply Wuxi Guofei with 10 MW of monocrystalline cells each year, starting from 2009 through 2015, and China Sunergy will receive an advance payment after the signing of the Agreement.

"This represents a significant domestic sales agreement for China Sunergy and secures a long-term demand for our monocrystalline cells," remarked Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy. "The payment terms of the agreement also provides China Sunergy with additional capital for investment in the continued development of our highly efficient solar cells, helping to ensure our company remains an industry leader in the solar energy sector in the future."

Further details about: China Sunergy and Wuxi Guofei Green Energy Source