CTDC Entered Into Up to 2.1GW PV Projects Cooperation Framework Agreements in August

HONG KONG, Sept. 7, 2012 (GLOBE NEWSWIRE) — China Technology Development Group Corporation (“CTDC” or “the Company”) (CTDC), a growing clean energy group that provides solar energy products and solutions, today announced that it has entered into a number of cooperation framework agreements with several PV industry players regarding cooperation on PV projects with a total of 2.123GW capacity in the coming three years.

CTDC has been involved in conversations with several local and overseas companies in the solar industry for the discussion of cooperation opportunities on future solar power projects. Up to August 31, 2012, the Company has signed a total of four cooperation framework agreements, details of which have been listed below:

  1. 973MW PV projects cooperation framework agreement with GCL-Poly Energy Holdings Limited (3800.HK) and China Merchants New Energy Holdings Limited,
  2. 200MW PV projects joint development agreement with Hareon Solar Technology Company Limited (SHA:600401) and China Merchants New Energy Holdings Limited,
  3. 450MW PV projects cooperation framework agreement with Znshine PV-Tech Company Limited and China Merchants New Energy Holdings Limited, and
  4. 500MW PV projects cooperation framework agreement with Astronergy Company Limited and China Merchants New Energy Holdings Limited.

Within the next 3 years, CTDC will take an intermediary role as a coordinator among different parties for the upcoming PV projects and will be remunerated for a commission fee based on the services provided.

Sean Liaw, President of the Company commented: “These activities are expected to bring more diversified business opportunities to the Company and we are looking forward to playing an important role in global solar project development.”

About CTDC:

CTDC is a fast growing clean energy group in China based in Hong Kong, providing solar energy products and solutions to the global market under the “LSP” brand. CTDC’s major shareholder is China Merchants Group, a state-owned conglomerate in China (http://www.cmhk.com).

For more information, please visit http://www.chinactdc.com.

Contact:
PR/IR Department
China Technology Development Group Corporation
Tel: +852 3112 8461
Email: serena.wu@chinactdc.com
Web: www.chinactdc.com

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