North Coast Solar Stocks

October 23, 2009

China Sunergy and Canadian Firm Opsun Technologies Sign Solar Products Framework Agreement

Filed under: CSUN — Tags: , , — Jason @ 8:30 am

8:30 am EDT, Friday October 23, 2009

NANJING, China, Oct. 23 /PRNewswire-Asia/ — China Sunergy Co., Ltd (CSUN), a specialized solar cell manufacturer based in Nanjing, China, and Opsun Technologies, Inc., a Canadian manufacturer of solar panels, mounting systems and solar concentrators (“Opsun”), have entered into a framework agreement related to the delivery of China Sunergy solar products to Opsun between 2009 and 2014.

The framework agreement aims to leverage the existing relationship between the firms to facilitate sales of China Sunergy’s existing solar cell products while enhancing the development of specialized solar cells for future projects. The agreement encompasses the delivery of 100MW of solar cells and solar modules to Opsun, with the solar modules being provided through OEM arrangements.

Opsun will integrate China Sunergy’s advanced solar cell technology into their PV Panel, Structural PV modules and 3X Concentrated modules, sales of which will initially be focused in the Canadian provinces of Ontario and Quebec as well as the north-eastern United States. As part of the developmental aspect of the agreement, China Sunergy will enhance existing solar cell technology based on Opsun’s specifications, allowing the delivery of specialized solar products directly to Opsun. These solar products will be incorporated into Opsun’s advanced ‘3 Suns’ photovoltaic concentrator systems, demonstrating China Sunergy’s ability to deliver customized solutions to clients.

“The relationship with Opsun has already proven to be a valuable one for China Sunergy, and we look forward to deepening our cooperation by working together to develop advanced solar products in the coming years,” stated Mr. Allen Wang, Director and Chief Executive Officer of China Sunergy. “Opsun is an innovative company offering unique and dynamic products, and we anticipate our relationship leading to continued success at the front-line of the Canadian solar sector.”

Raymond Gilbert, Opsun’s Chairman, commented, “Opsun is delighted to have strengthened our partnership with China Sunergy, a well-known player in the photovoltaic field and a leading solar cell producer. As Opsun integrates CSUN’s components into our new product lines, we will be in a stronger position to rapidly become a significant player in North America’s fast growing photovoltaic market.”

About Opsun Technologies, Inc.:

Opsun aims to develop and manufacture a line of solar products that minimizes the total cost of solar systems by increasing efficiency, reducing material costs and facilitating installation on rooftops and solar farms. Founded in 2005, Opsun Technologies is composed of a team of PhDs, Masters in Science, engineers and technical people. Opsun’s management team has more than 35 years of experience in service, manufacturing and energy corporations. Opsun’s line of products, which has been developed to be installed in cold climates with snow and ice rain, features unique and innovative patented technologies and concepts. Opsun is participating in the Ontario Feed-In Tariff program.

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