LUXEMBOURG and DONGYING, China, March 8 /PRNewswire-Asia/ -- CNPV Solar Power SA, a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules 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 Techbank Company Limited, a leading South Korean photovoltaic company and competence center for photovoltaic power plants that develops and sells turn-key photovoltaic power plants.
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Under the terms of this strategic agreement, CNPV will supply Techbank with a total of 36MWp of PV Modules from 2010 to 2012, which includes 10MWp of scheduled delivery during 2010. The remaining 12MWp and 14MWp are scheduled for delivery in 2011 and 2012 respectively.
"We are very pleased to announce this new strategic partnership with Techbank. Our strategic partnership with Techbank 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 South Korea and Japan solar markets," jointly stated B. Veerraju Chaudary, CNPV's COO, CTO & Member of the Board and Seonggun Chang, CNPV Korea's President, "This reflects the continued strong demand and representation for our best-in-class solar products in major solar markets worldwide. We look forward to continuing to expanding our relationship with one of our loyal strategic partners Techbank by providing high quality modules, premium service and a low cost industry leading platform."
Mr. Myung H Oh, CEO & President of Techbank said, "CNPV Solar Power is a leading supplier of high-quality, high performance solar modules in the Korean market. CNPV Solar Power modules are quickly recognized by our customers as a product with one of the best energy production ratios. We are very pleased to expand our strategic partnership with CNPV, which will allow us to provide long-term superior solutions to the attractive solar market in Korea, especially to our important local power utility customers."
About CNPV
CNPV Solar Power SA (NYSE Euronext: ALCNP), through its wholly-owned subsidiary, CNPV Dongying Photovoltaic Power Company Limited, is a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules that designs, manufactures and supplies highly efficient and cost effective crystalline solar photovoltaic modules. Reliability & longevity are built into our world-class crystalline solar photovoltaic modules, which undergo rigorous internal tests and external certifications (IEC61215, IEC61730, UL, and CE) to ensure peak performance and safety. For further information, please visit CNPV's website at http://www.cnpv-power.com .
About Techbank
Techbank Company Limited is a well-established supplier of photovoltaic systems and components in South Korea and East Asian countries. The Company attaches great importance to the quality of its products and delivery of its services to customers and business partners. The founders have experience since 1995 in different sectors of the Semiconductors and Photovoltaic Industry i.e. large-scale projects and on-roof-Installations to supply customers with the highest quality standard in the sector of Photovoltaic downstream operations.
