China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module manufacturer, is pleased to announce that the Company has begun assembling solar modules in France through OEM cooperation with KDG Energy, a French manufacturer of high quality PV modules. Today, the first order will be delivered to Akuo Energy Group, a leading developer, investor and operator of renewable energy plants across the world.
In October 2011, China Sunergy initiated OEM cooperation with KDG Energy. Both parties entered into a memorandum of understanding in November 2011, under which KDG Energy will manufacture solar modules for China Sunergy in France, under CSUN's brand name. China Sunergy will send the required components to KDG for the fabrication of such modules.
Such modules assembled by KDG Energy for China Sunergy will be labeled as "CSUN Made in France", and will satisfy the following three criteria: that the string of cells, lamination, and flash tests are all carried out in France. In mid-March 2012, KDG Energy officially started the commercial production of "CSUN Made in France" solar modules. Today, the first order of "CSUN Made in France" solar modules was delivered to Akuo Energy Group in Paris.
Mr. Stephen Cai, China Sunergy's CEO commented, "France has always been an important market for us. KDG Energy is well recognized as a high quality, high-tech manufacturer of photovoltaic panels in France. We expect our cooperation with KDG Energy will allow China Sunergy to further develop its business in France and help China Sunergy position itself as a preferred supplier in the entire European market."
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilizes crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as photovoltaic effect, and assembles solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas module manufacturers, system integrators and solar power systems for use in China