Solar

Tapping the Chinese Solar Energy Market

The massive, and promising Chinese solar energy market will be tapped by a company solidifying plans to put solar on over 100 gas stations in the country, and building sales and distribution networks in the largely untapped region.

Miami, Florida – April 12, 2004 [SolarAccess.com] Universal Communication Systems, company chairman Michael J. Zwebner announced that the company has signed an agreement with their Chinese joint venture partners, JiangSu Yangtze Petrochemical Co Limited of Shanghai China, a division of Petro-China, to begin a program of “PV Solarization” of two first test cases — PetroChina Gas Stations in China. The program will be pursued through their new Chinese corporation: Shanghai Gaochen Energy Technology and Development Co Limited, (SGETD) which was recently formed for the proposed new business. Under the terms of the agreement, SGETD will, using the latest photovoltaic (PV) solar energy panels and systems, and related technologies to complete PV Solarization of two PetroChina Gas Stations. The initial costs of these first two installations is estimated to be up to $100,000 each. The pay-back schedule is estimated to be less than 3 years. “PetroChina is one of the world’s largest Petroleum companies and operates thousands of Gas Stations throughout China,” UCSY Company chairman, Michael Zwebner. “As part of our agreement, following the successful installation and conversion of the initial two PetroChina Gas Stations transferring from Grid Connected electric power to PV Solar Energy, we will contract further to “PV Solarize” over 1,000 additional Gas Stations in a contract potentially worth over $100 million. Our Chinese joint venture partners are very excited about the possibilities of moving from Grid Supplied Electric Power, to PV Solar Energy Systems.” In addition, as previously reported, UCSY subsidiary Millennium Electric TOU Limited will jointly develop the local market for PV solar panels and systems, for sales and distribution to both the Chinese market and for export to other markets around the world. It is also anticipated that the group will eventually contract to manufacture a range of Millennium’s PV Solar panels in China.