Monday, March 9, 2009

China Sunergy Announces Solar Cell Sales Agreement with asola

March 4, 2009

China Sunergy Co., Ltd. (NASDAQ:CSUN) , a specialized solar cell manufacturer based in Nanjing, China, today announced that it has entered into a solar cell sales agreement with asola Advanced and Automotive Solar System GmbH ("asola"), a German solar module manufacturing company. Under the terms of the contract, China Sunergy will supply a total volume of between 10MW and 30MW of solar cells to asola from February to December of 2009.

Pricing and quantity are fixed for the first half of 2009, while the transaction details for the second half are subject to further negotiations.

"We are delighted to be signing another solar cell sales agreement with asola, and believe that this relationship will only strengthen in the coming years," remarked Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy. "We will continue to actively build strategic partnerships with our existing customers, while pursuing new sales opportunities for our advanced solar cell products."

Reinahrd Wecker, CEO of asola, added, "We are pleased to continue our relationship with China Sunergy as we expand our business into important solar markets, including Italy and the U.S."

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