Luxembourg & Dongying, China — CNPV Solar Power SA has entered into a long-term sales agreement with Photon Hellas, a Greek project development, installation and distribution company.
Under the terms of this agreement, CNPV will supply Photon Hellas with a total of 20 megawatts (MW) of photovoltaic modules from 2010 to 2012, which includes 3 MW of scheduled delivery during second half of 2010. The remaining 7 MW and 10 MW are scheduled for delivery in 2011 and 2012 respectively.
Despite the economic worries in Greece, it remains an attractive solar energy market for the long term, due in large part to its feed-in tariff structure.
“Our partnership with Photon Hellas is a significant success for us in aligning ourselves with a proven regional energy developer with growing opportunities in established and emerging photovoltaic markets. This new contract will significantly help to grow new projects in Greece’s solar markets,” said B. Veerraju Chaudary, CNPV’s COO and CTO. “We look forward to continuing to expand our relationship with one of our loyal strategic partners Photon Hellas in Greece by providing high quality modules, premium service and a low cost industry leading platform.”