Under the Terms China Sunergy Will Supply at Least 30 MW of Solar Cells in 2008
October 18, 2007: 01:30 AM EST
NANJING, China, Oct. 18 /Xinhua-PRNewswire/ -- China Sunergy Co. Ltd. , a specialized solar cell manufacturer based in Nanjing, China, announced today that it has signed a solar cell supply agreement (the ''Agreement'') with aleo solar AG (''aleo''), a leading German solar module manufacturer, to supply at least 30 MW of high quality silicon solar cells in 2008.
China Sunergy will supply 10 MW of solar cells to aleo during the first half of 2008, and deliver the additional 20 MW during the second half of the year. aleo also owns an option to buy an additional 10 MW from China Sunergy in 2008. The negotiations regarding this option will be finalized before June 1st, 2008. The price for the first half of 2008 is fixed and both parties agree to fix the price for the second half of 2008 before March 30th, 2008.
In addition to the supply agreement in 2008, both parties have agreed to explore a longer-term business relationship extending into 2009. Details of this longer-term relationship will be negotiated by June next year.
The average conversion efficiency of the solar cells China Sunergy will supply should be no less than 16%, according to the terms of the Agreement.
Commenting on the Agreement, Allen Wang, CEO of China Sunergy, said: ''One of my key objectives has been to enlarge and diversify our customer base and this new agreement is another important step in that direction. Even though this Agreement and the recent wafer and polysilicon supply contracts are very positive developments as we look into 2008, I remain cautious about the outlook for the remainder of the year given the continued tight wafer supply and rise in wafer pricing that we have experienced so far in the second half of 2007.''
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 .
Friday, October 19, 2007
Yingli Adopts Shareholder Rights Plan
2007 The Associated Press
NEW YORK — Chinese solar product manufacturer Yingli Green Energy Holding Co. Ltd. said Wednesday its board adopted a shareholder rights plan with a 15 percent trigger, designed to protect the best interests of the company and its shareholders against a hostile takeover.
Under the plan, shareholders will receive one right for each share held at Oct. 26, Yingli said.
The rights will become exercisable if a person or group obtains ownership of 15 percent or more of the company's ordinary shares, or attempts to acquire the company without board approval. The plan will remain in effect until Oct. 17, 2017, unless redeemed or terminated earlier by the company, Yingli said.
Yingli's American Depositary Receipts rose 62 cents to $31.75 in morning trading.
NEW YORK — Chinese solar product manufacturer Yingli Green Energy Holding Co. Ltd. said Wednesday its board adopted a shareholder rights plan with a 15 percent trigger, designed to protect the best interests of the company and its shareholders against a hostile takeover.
Under the plan, shareholders will receive one right for each share held at Oct. 26, Yingli said.
The rights will become exercisable if a person or group obtains ownership of 15 percent or more of the company's ordinary shares, or attempts to acquire the company without board approval. The plan will remain in effect until Oct. 17, 2017, unless redeemed or terminated earlier by the company, Yingli said.
Yingli's American Depositary Receipts rose 62 cents to $31.75 in morning trading.
Suntech Supplies MSK BIPV Skylight System to Green REI Store
October 16, 2007: 08:00 AM EST
WUXI, China, Oct. 16 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. , one of the world's leading manufacturers of photovoltaic (PV) cells and modules, today announced that it has supplied a custom designed MSK building integrated photovoltaic (BIPV) Light Thru skylight system to Recreational Equipment, Inc. (REI), a national retail cooperative providing quality outdoor gear and clothing, for their prototype store, which officially opened on Friday, Oct. 5th in Boulder, Colo.
"This installation in REI's prototype store is just one example of the extensive interest in building integrated solar technology that we are seeing in the U.S.," said Len May, Suntech America's Vice President of Business Development for MSK BIPV Products. "Commercial enterprises, public institutions, and private home owners are all driving demand for green energy and building integrated solar solutions are well suited to meet this demand."
The 42,000-square-foot store, a renovation and expansion of REI's existing Boulder location, is designed to meet the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED(R)) Silver standards for commercial interiors. The state of the art facility highlights a number of innovative green building technologies, such as BIPV. The MSK BIPV Light Thru skylight system is comprised of a highly aesthetic laminated glass product integrated with crystalline photovoltaic cells. BIPV glazing has dual functionality as a generator of clean electricity and as a shading device to reduce solar heat gain, further reducing energy costs.
"In contrast to standard PV modules, the semi-transparent BIPV glass panels transmit light at the same time as generating solar electricity. Integrating the photovoltaic cells directly into the building skin also reduces material costs and greatly enhances the aesthetics of the solar system," said Mr. May.
REI has embraced the idea of integrating photovoltaics into the design of its prototype by building an 'interior monument' under the BIPV skylight. Three peaks located at the front of the store will be a focal point on the retail floor and will draw customers' vision up to the BIPV system.
BIPV consulting firm Solar Design Associates (SDA) worked with design firm Gensler to design the photovoltaic glass into the building. SDA President Steven Strong commented, "There is growing demand for architecture that combines attractive design with environmentally friendly building products. Building integrated solar systems are a fantastic way to achieve this objective."
"REI's Boulder store builds on our more than 10 years of green building experience, and helps us test concepts that will pave the way for how our stores are built in the future, including design, material selections and use of technology," said Dean Iwata, REI's director of store development. Using LEED certification standards, REI plans to incorporate green elements into future buildings. REI's new distribution center in Bedford, Pa. and other prototype stores will include many of the innovative and environmentally sound features found in the Boulder store. A comprehensive summary of the store's green building features is available on REI's website at http://www.rei.com/greenbuilding/boulder .
About Gensler
Gensler is a leading global design, planning and strategic consulting firm. The firm has been a champion of sustainable design for many years. In 2005, Gensler received the Leadership Award from the U.S. Green Building Council for its commitment to the advancement of sustainable design.
About Solar Design Associates
Solar Design Associates is an interdisciplinary group of dedicated professionals working to create a sustainable built environment. Since its founding in 1974, the firm has earned an international reputation for the pioneering integration of renewable energy systems -- especially solar electricity -- and environmentally responsive building design. SDA offers services in project planning, building design, energy systems engineering and technology development to architects, private, commercial, government and institutional clients.
http://www.solardesign.com/index.html
About Suntech
Suntech Power Holdings Co., Ltd. is a leading solar energy company in the world as measured by both production output and capacity of solar cells and modules. Suntech provides solar solutions for a green future. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly PV cells and modules for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's majority-owned subsidiary, MSK Corporation is one of the top-ranked companies in the building-integrated photovoltaics (BIPV) space. Suntech's customers are located in various markets worldwide, including key markets throughout Europe, North America, Japan and China. For more information, please visit http://www.suntech-power.com .
Suntech America, Inc. is a wholly-owned subsidiary of Suntech Power Holdings Co., Ltd with responsibility for the distribution of Suntech products in the Americas. For more information about Suntech America's product offerings please contact Roger Efird, tel: +1 (301) 774-3430 or email: sales@suntechamerica.com .
WUXI, China, Oct. 16 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. , one of the world's leading manufacturers of photovoltaic (PV) cells and modules, today announced that it has supplied a custom designed MSK building integrated photovoltaic (BIPV) Light Thru skylight system to Recreational Equipment, Inc. (REI), a national retail cooperative providing quality outdoor gear and clothing, for their prototype store, which officially opened on Friday, Oct. 5th in Boulder, Colo.
"This installation in REI's prototype store is just one example of the extensive interest in building integrated solar technology that we are seeing in the U.S.," said Len May, Suntech America's Vice President of Business Development for MSK BIPV Products. "Commercial enterprises, public institutions, and private home owners are all driving demand for green energy and building integrated solar solutions are well suited to meet this demand."
The 42,000-square-foot store, a renovation and expansion of REI's existing Boulder location, is designed to meet the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED(R)) Silver standards for commercial interiors. The state of the art facility highlights a number of innovative green building technologies, such as BIPV. The MSK BIPV Light Thru skylight system is comprised of a highly aesthetic laminated glass product integrated with crystalline photovoltaic cells. BIPV glazing has dual functionality as a generator of clean electricity and as a shading device to reduce solar heat gain, further reducing energy costs.
"In contrast to standard PV modules, the semi-transparent BIPV glass panels transmit light at the same time as generating solar electricity. Integrating the photovoltaic cells directly into the building skin also reduces material costs and greatly enhances the aesthetics of the solar system," said Mr. May.
REI has embraced the idea of integrating photovoltaics into the design of its prototype by building an 'interior monument' under the BIPV skylight. Three peaks located at the front of the store will be a focal point on the retail floor and will draw customers' vision up to the BIPV system.
BIPV consulting firm Solar Design Associates (SDA) worked with design firm Gensler to design the photovoltaic glass into the building. SDA President Steven Strong commented, "There is growing demand for architecture that combines attractive design with environmentally friendly building products. Building integrated solar systems are a fantastic way to achieve this objective."
"REI's Boulder store builds on our more than 10 years of green building experience, and helps us test concepts that will pave the way for how our stores are built in the future, including design, material selections and use of technology," said Dean Iwata, REI's director of store development. Using LEED certification standards, REI plans to incorporate green elements into future buildings. REI's new distribution center in Bedford, Pa. and other prototype stores will include many of the innovative and environmentally sound features found in the Boulder store. A comprehensive summary of the store's green building features is available on REI's website at http://www.rei.com/greenbuilding/boulder .
About Gensler
Gensler is a leading global design, planning and strategic consulting firm. The firm has been a champion of sustainable design for many years. In 2005, Gensler received the Leadership Award from the U.S. Green Building Council for its commitment to the advancement of sustainable design.
About Solar Design Associates
Solar Design Associates is an interdisciplinary group of dedicated professionals working to create a sustainable built environment. Since its founding in 1974, the firm has earned an international reputation for the pioneering integration of renewable energy systems -- especially solar electricity -- and environmentally responsive building design. SDA offers services in project planning, building design, energy systems engineering and technology development to architects, private, commercial, government and institutional clients.
http://www.solardesign.com/index.html
About Suntech
Suntech Power Holdings Co., Ltd. is a leading solar energy company in the world as measured by both production output and capacity of solar cells and modules. Suntech provides solar solutions for a green future. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly PV cells and modules for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's majority-owned subsidiary, MSK Corporation is one of the top-ranked companies in the building-integrated photovoltaics (BIPV) space. Suntech's customers are located in various markets worldwide, including key markets throughout Europe, North America, Japan and China. For more information, please visit http://www.suntech-power.com .
Suntech America, Inc. is a wholly-owned subsidiary of Suntech Power Holdings Co., Ltd with responsibility for the distribution of Suntech products in the Americas. For more information about Suntech America's product offerings please contact Roger Efird, tel: +1 (301) 774-3430 or email: sales@suntechamerica.com .
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