China Sunergy 25-MW Deal with SolarMax

China Sunergy Co. Ltd. has signed a letter of intent with SolarMax Technology Inc. for the supply of 25 megawatts (MW) of solar cells to SolarMax in 2009. The supply schedule and supply volume are subject to change depending negotiations between both parties.

According to the letter of intent, SolarMax will act as a sales agent and representative of China Sunergy in the U.S., and China Sunergy will receive local support from SolarMax. The parties will also work together on future.

“We are making steady progress regarding our strategy of customer base diversification as demonstrated by entering this mutual understanding with SolarMax. This cooperation offers competitive advantages to both China Sunergy and SolarMax, and we hope to mutually benefit from our partnership. We are confident that we will continue to enter into international markets in Europe and the United States through the sales of our advanced solar cell products,” said Dr. Allen Wang, director and CEO of China Sunergy.

This is the second deal that China Sunergy has signed this month. Two weeks ago, the company signed a deal with asola Advanced and Automotive Solar Systems GmbH. The non-binding framework agreement calls for China Sunergy to deliver up to 480 megawatts (MW) of solar cells to asola starting this year and continuing through 2018.

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