China Sunergy Co., Ltd. (NASDAQ: CSUN) ("China Sunergy" or "the Company"), a specialized solar cell and module manufacturer, today announced that the Company successfully further expands its market share in Malaysia market with shipment of 1MW QSAR solar modules for the first megawatt-level ground-mounted system (the "System") of Pekat Solar Sdn Bhd ("Pekat ") a subsidiary company of Pekat Group of Companies, a renowned solar photovoltaic (PV) service and engineering solution provider in Malaysia certified by Ministry of Energy, Green Energy and Water (KeTTHA). The Company has already delivered the shipment and the site installation has been completed.
Pekat ventured into solar industry in 2006 and attained the certification from Malaysia Energy Centre in 2009, which consolidate its position in Malaysia solar market. Given the limited scale of mountable area and higher installation standards, Pekat opted China Sunergy to be the exclusive partner for its first ground-mounted system as the Company's high-efficient and PID-free QSAR modules appropriately fit. The System, located in the east coast of Malaysia, is anticipated to connect to grid in mid-August 2013.
Mr. Wee Chek Aik, Managing Director of Pekat solar commented, "The first megawatt level ground-mounted system is an important milestone to us, we were really cautious to recommend reliable and reputable PV module to our client for this flagship solar farm project. We noticed that China Sunergy's QSAR high-efficient modules are deemed right and superiorly fit for this project at the same time can offer stable power output, outstanding space savings, and PID-free benefits. The Company's high quality PV panels, excellent service and the deliverable capability have been the main reason why we cooperate with China Sunergy, and we look forward to expanding our cooperation to further develop Malaysia's nascent solar market."
The feature that Malaysia is adjacent to equator enables it to enjoy the rich solar energy potential. Malaysiawitnessed a significant increase in new installation capacity from 2011 to 2012, based on NPD Solarbuzz research report, the new installation in 2012 was forecasted to reach 30MW, compared to only 5MW in 2011.Malaysia government is targeting 1.25 GW of PV installations by 2020. It is expected that Malaysia solar market will continue the ascending trend in 2013.
Mr. Stephen Cai, CEO of China Sunergy, concluded, "We are honored to be exclusive supplier on this project and wish it comes to be a great success. Customer's confidence in us is the reason we continuously excel, we will continue to provide the premium products for other projects of Pekat in the remainder of 2013. Amid industry turmoil, we strengthen the execution of our geography mix shift strategy, in which, budding markets like Malaysiaare our main targets. Benefiting from policy and non-policy drivers, we believe Malaysia has a bright potential for solar energy and our company has already deployed professional sales team since last year to accommodate the imminent growth. We expect to expand further in Malaysia market with the progression of Pekat and other customers, and, into other Southeast Asia markets."