Tuesday, May 8, 2007

Solarfun Announces 140 Megawatt Module Supply Contract

January 16, 2007
Shanghai, China: Solarfun Announces 140 Megawatt Module Supply Contract
Solarfun Power, a manufacturer of photovoltaic (PV) cells and modules in China, today announced a significant new sales agreement. Under the terms of the agreement, Solarfun will sell approximately 140MW of photovoltaic modules to UB Garanty Project S.L. in Spain over the next three years. The contract is expected to have an estimated value of between US$40 million and US$50 million in 2007.
Solarfun Power Holdings Co, Ltd., is an established manufacturer of both PV cells and PV modules in China. Established in August 2004, Solarfun conducts substantially all of its business through its operating subsidiary in the People’s Republic of China (PRC), Jiangsu Linyang Solarfun Co., Ltd., or Linyang China, and two majority-owned subsidiaries of Linyang China, Shanghai Linyang Solar Technology Co., Ltd., which provides system integration services in China, and Sichuan Leshan Jiayang New Energy Co., Ltd., a manufacturer of PV modules. Solarfun sells its products both through third-party distributors and directly to system integrators.
Mr. Yonghua Lu, Chairman and CEO of Solarfun commented, “I am pleased to announce this new contract with UB Garanty Project S.L. We believe it will expand our existing market share and enhance our brand name in Spain and we are confident that Solarfun will continue to penetrate high growth PV markets such as Spain, Italy and other emerging markets in Europe.”
Further details about: Solarfun Power

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