China Sunergy Receives 10-MW in Orders, Renegotiates Ingot/Wafer Supply Deal

China Sunergy has signed a series of sales contracts with NUE PTY Ltd, a solar photovoltaic distributor based in Victoria, Australia. China Sunergy expects to ship up to 10 megawatts (MW) of monocrystalline solar modules, which are manufactured under sub-contracted OEM arrangement, to NUE.

Shipments of the modules began in June 2009 and the full delivery under these contracts is scheduled to be completed by early 2010. The companies said they expect to sign further supply deals upon completetion of this contract.

“Australia represents another new market for China Sunergy, and our successful signing of multiple sales agreements with this new customer is a positive indication of our ability to deliver high-quality solar power products globally,” commented Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy. “Our dedicated sales efforts continue to generate results, both domestically and internationally, as we look to further diversify our sales channels.”

China Sunergy has also entered into the renegotiation of a supply agreement signed with REC SiTech AS. On June 25, 2008, China Sunergy entered into an agreement for the supply of monocrystalline silicon ingots and/or wafers with REC SiTech. The contract called for the supply of 156- millimeter monocrystalline wafers for seven years from 2009 through 2015.

As the polysilicon supply market has changed dramatically since the fourth quarter of 2008, raw material suppliers such as REC have begun the renegotiation of supply agreements with their respective customers. Against this background, China Sunergy said that it has entered into the renegotiation with REC with the good faith to reach a mutually beneficial agreement between both parties.

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