Risen Energy Supplies 148MW Half-cut cell High-efficiency Monocrystalline Modules to a large-scale Ukrainian Ground Mounted Project

Risen Energy Co., Ltd. (Hereinafter refer to as Risen Energy) officially
supplied 148MW half-cut cell high efficiency monocrystalline modules to a local
large-scale ground-mounted power station in Ukraine.

Supply Agreement of this project was signed in June. As a module supplier,
Risen Energy will cooperate with EPC general contractor, PowerChina Guizhou
Engineering Co., Ltd., providing 375W half-cut cell monocrystalline and 380W
high-efficiency modules. It is estimated that the product delivery will be
completed in September and the power station will be completed, get grid-connected
and enter the operation phase by the end of this year. It is expected that the
annual energy production of the power station can meet the daily electricity demand
of 70,000 local residents. For this project, the carbon dioxide emission can
reach up to 170,000 tons. This project will not only meet local electricity demand
in Ukraine, but also will create substantial social income.

Energy commented, “This project is a demonstration of the close collaboration
between Risen Energy’s teams at home and abroad, from previous negotiations and
signing to delivery, all of which were carried out on time and in order. Furthermore,
the expanding factories’ productivity and adoption of high efficiency
manufacturing equipment using men-machine integration has effectively and significantly
increased production efficiency and has also optimized manufacturing cost. This
has helped us to promote our more high-quality and competitive products to
global markets. We are more confident in delivering high-quality products and ensuring
the smooth progress of these projects. Now we are gradually forming a
high-efficiency, high-quality and reliable supply chain.

an emerging market for photovoltaic, Ukraine has enormous development
potential. The Ukrainian government said that by 2020, €3 billion ($3.4
billion) will be invested in the Ukrainian solar power industry and the
proportion of renewable energy will rise from 3.8% to 11%. According to experts
from the Institute of Renewable Energy of the National Academy of Sciences of
Ukraine, recently the cost of solar electricity has declined significantly. 5
years ago, the cost of 1,000 kWh solar electricity was about $4,000 and now it
is $600-$800. The cost decline will significantly increase the proportion of
photovoltaic energy in total energy structure, providing opportunities for module
enterprises at home and abroad. Hence, it is one of the overseas markets with
increasing potential.

Energy will positively arrange service networks between overseas markets and
the local market and accelerate this arrangement with high-quality products and
services. According to current delivery statistics, Risen will supply nearly 1GW
modules to Ukrainian markets by the end of 2019, and can complete plans made at
the beginning of 2019 in advance.


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