CNPV Signs Long-Term Strategic Partnership with STAND-BY Europe, a Czech Company

DONGYING, China, Nov. 19 /PRNewswire-Asia/– CNPV, a leading multi product solar company that produces ingots, wafers, cells & solar modules, and has strong presence in the solar photovoltaic space that designs, manufactures and supplies highly efficient and cost effective crystalline solar photovoltaic modules, today announced that it has entered into a long-term strategic partnership sales agreement with STAND-BY Europe, a well-known Czech Project development and distribution company. The agreement was signed in conjunction with STAND-BY Europe’s recent October 15-16, 2009 visit to a CNPV facility along with CTP invest, Reiffeisen Bank and Lumen Engineering Company.

Under the terms of this strategic agreement, CNPV will supply STAND-BY Europe with a total of 100MWp of PV Modules from 2009 to 2012, which includes 5MWp of scheduled delivery during Q42009 at fixed prices. The remaining 25MWp, 30MWp and 40MWp are scheduled for delivery in 2010, 2011 and 2012 respectively. However the price will be reviewed mutually on a quarterly basis if the market price falls or rises with reference to the fixed prices.

"We are very pleased to announce this new strategic partnership with STAND-BY Europe, to further strengthen the existing well established partnership with STAND-BY Europe. Our strategic partnership with STAND-BY Europe is a significant success for us in aligning ourselves with a proven multiregional energy developer with growing opportunities in established and emerging photovoltaic markets. This new contract will significantly help to grow new projects in markets such as the Czech Republic, Slovakia and other eastern European solar markets," stated Mr. Zhang Shunfu, CNPV’s CEO and B. Veerraju Chaudary, CNPV’s COO, CTO & Member of the Board. "We look forward to continuing to expanding our relationship with our loyal strategic partner STAND-BY Europe by providing high quality modules, premium service and a low cost industry leading platform."

"STAND-BY Europe is proud of this new strategic sales agreement with CNPV. We consider this as a continuation of our good relationship with CNPV to bring their high quality modules and premium service to our customers across the Czech Republic and Eastern Europe," commented Mr. Vaclav Prihoda, MD, Mr. Jan Buric, MD, Jan Matusik, Sales Director, and Mr. David Carr, China Regional Director of STAND-BY Europe.

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