Tuesday, September 18, 2007

China Sunergy Signs Wafer Supply Agreement

September 17, 2007: 07:46 AM EST

NANJING, China, Sept. 17 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. , a specialized solar cell manufacturer based in Nanjing, China, announced today that it has entered into a supply agreement (the "Agreement") with a leading Taiwan based wafer provider, for a high quality supply of approximately 68 megawatts of monocrystalline 156-millimeter wafers for 2007, 2008 and 2009.

The scheduled shipments are expected to begin in November 2007 and expire in December 2009. The Agreement provides for 8% of the wafer supplies to be shipped in 2007, and 46% to be shipped in 2008 and 2009, respectively. The pricing terms are generally subject to negotiation on a quarterly basis.

Commenting on the Agreement, Allen Wang, CEO of China Sunergy said, "Since I joined China Sunergy, one of my priorities has been to secure a reliable, long-term supply of poly-silicon and high-quality wafers to further enhance our product conversion efficiency and competitiveness. By partnering with our new supplier, we are reducing our reliance on the spot market, and I believe that the cost savings involved will ease the current pressure we are seeing on our margins."

About China Sunergy Co., Ltd.:

China Sunergy Co., Ltd. ("China Sunergy") is a leading manufacturer of solar cell products in China as measured by production capacity. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .

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