NANJING, China, Jan. 5,
2015 /PRNewswire/ -- China Sunergy Co., Ltd. (NASDAQ: CSUN)
("China Sunergy" or "the Company"), a specialized solar cell and
module manufacturer, today announced that its wholly-owned
subsidiary, CEEG (Nanjing)
Renewable Energy Co., Ltd., has won a 30 MW contract from Enrich
Energy Pvt. Ltd ("Enrich Energy"), an integrated solar energy
solutions provider and a pioneer in India focused
on developing large scale private solar parks across India.
Enrich Energy will deploy China Sunergy's multi-crystalline
modules in a ground-mounted project in India's newly formed Telangana State.
The solar modules will be supplied from the Company's Shanghai plant, and the shipment is expected
to be completed by the end of January
2015. Continuing China Sunergy's positive momentum in the
fast-growing India market, the
final selection by Enrich Energy was based on the Company's
successful local market penetration with its diverse and quality
product offerings.
Mr. Ankit Kanchal, Director of
Enrich Energy said, "We are pleased to deepen our partnership with
China Sunergy on this pivotal ground-mounted project in
India. This will be the first
private solar park in India with a
Power Purchase Agreement being signed with the State Utility. Based
on our cooperation with China Sunergy over the past few years, we
are satisfied with the Company's dedicated team and comprehensive
product offerings. We firmly believe in China Sunergy's market presence and proven
execution."
Mr. Tingxiu Lu, Chairman and CEO
of China Sunergy commented, "We are honored to be reselected by
Enrich Energy for another prominent project in India. We appreciate their pioneering model of
turnkey solutions for small and large-scale solar investors in
India, and we look forward to
jointly capturing additional market opportunities in the region. We
believe this project win demonstrates our success in India and further validates our proactive
commitment to the region in prior years. The Asia market remains our strategic priority,
and we are confident to continue growing our business in the region
in 2015."
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
http://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.
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SOURCE China Sunergy Co., Ltd.