China Sunergy Gains over 300MW Solar Module Supply Agreement with Its International Customers on Intersolar Europe

June 16, 2015

NANJING, China, Jun 15, 2015 /PRNewswire/-- China Sunergy Co., Ltd. (NASDAQ: CSUN) ("China Sunergy" or "the Company"), a specialized solar cell and module manufacturer, today announced that it has entered into solar products supplement agreements with BayWa R. E, Waaree Energies Ltd., IZEN Belgium, Enerpoint Israel, Third Step France, and Turkey National Power Network, on Intersolar Europe, the world’s leading PV exhibition. Mr. Tingxiu Lu, Chairman and CEO of China Sunergy, together with European Sales team of CSUN, attended the exhibition. 

During the exhibition, CEO of Enerpoint Israel showed great interest and admiration in CSUN Eurasia in Turkey. He provided a friendly invitation to Mr. Tingxiu Lu to pay a visit to Israel for further cooperation affairs between CSUN and Enerpoint Israel with the target market in Israel as well as the United States.

Mr. Tingxiu Lu also met with CEO of Waaree Energies Ltd., who is in a high demand of 5 bus-bar high-efficiency solar cells of CSUN. In addition, Waaree Energies Ltd. conveyed the intention of cooperating with CSUN on PV plant, design, and qualification of EPC. It is expected to establish a long-term business partnership between CSUN and Waaree Energies Ltd. to develop local PV plant together in the near future.

 

About Enerpoint

The company was founded in Italy in 2001 and up to now has gained prestige in Italy and overseas thanks to the professionalism and experience of its staff, becoming a true benchmark for the pv sector in Italy. Enerpoint is present in Germany, Israel, UK and Benelux. 

 

About Waaree Energies Ltd.

The WAAREE Group consortium was founded in 1989 with a focus on Instrumentation; the company has since established themselves as India’s premier multi-diverse technology group having forte in multifarious verticals such as Solar Energy, Industrial Valves, Petroleum Equipment’s & Process Control Instrumentation. The company has a presence in over 68 countries, serviced through their 26 sales offices in India and 8 offices globally in UAE, Europe, USA and Australia

 

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 www.csun-solar.com.

 

Investor and Media Contacts:

 

China Sunergy Co., Ltd.

Investor Relations

Phone: + 86 25 5276 6666

Email: IR@chinasunergy.com

 

Asia Bridge Group Limited

Wendy Sun

Phone: + 86 10 8556 9033

Email: wendy.sun@asiabridgegroup.com

 

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.

 

To view the original version on PR Newswire, visit: www.prnewswire.com/news-releases/china-sunergy-signs-81mw-supply-agreement-with-solar-park-korea-300030633.html

 

SOURCE China Sunergy Co., Ltd.