Sunday, December 16, 2007

China Sunergy to Supply Asola With Cells

Associated Press December 14, 2007

China Sunergy Co. said Friday it has agreed to supply Asola Advanced and Automotive Solar System GmbH with solar cells worth 10.2 megawatts of annual generating capacity.

Terms of the agreement were not disclosed. China Sunergy will deliver the products during 2008, and both parties will explore further agreements through 2012.

"As we look to develop our business in new markets such as the U.S., Italy and Spain we would like to double or even triple our purchase volumes from China Sunergy each year," said Asola Chief Executive Reinhard Wecker.

The companies said they would like to further expand geographically _ China Sunergy in Europe and Asola in the U.S., Italy and Spain. China Sunergy is a Nanjing, China-based solar-cell maker, and Asola is a German manufacturer of solar-power systems.

China Sunergy is targeting production of 160 megawatts to 170 megawatts worth of solar cells next year. A one-megawatt plant running continuously at full capacity can power 778 households each year, according to the U.S. Department of Energy. Solar technology has lower capacity than other technologies because its power generation is constrained by availability of the sun.

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