China Sunergy Co., Ltd. (NASDAQ: CSUN) ("China Sunergy" or "the Company"), a specialized solar cell and module manufacturer, today announced that its wholly-owned subsidiary, CEEG (Nanjing) Renewable Energy Co., Ltd., has won a 30 MW contract from Enrich Energy Pvt. Ltd ("Enrich Energy"), an integrated solar energy solutions provider and a pioneer in India focused on developing large scale private solar parks across India.
Enrich Energy will deploy China Sunergy's multi-crystalline modules in a ground-mounted project in India's newly formed Telangana State. The solar modules will be supplied from the Company's Shanghai plant, and the shipment is expected to be completed by the end of January 2015. Continuing China Sunergy's positive momentum in the fast-growing India market, the final selection by Enrich Energy was based on the Company's successful local market penetration with its diverse and quality product offerings.
Mr. Ankit Kanchal, Director of Enrich Energy said, "We are pleased to deepen our partnership with China Sunergy on this pivotal ground-mounted project in India. This will be the first private solar park in India with a Power Purchase Agreement being signed with the State Utility. Based on our cooperation with China Sunergy over the past few years, we are satisfied with the Company's dedicated team and comprehensive product offerings. We firmly believe in China Sunergy's market presence and proven execution."
Mr. Tingxiu Lu, Chairman and CEO of China Sunergy commented, "We are honored to be reselected by Enrich Energy for another prominent project in India. We appreciate their pioneering model of turnkey solutions for small and large-scale solar investors in India, and we look forward to jointly capturing additional market opportunities in the region. We believe this project win demonstrates our success in India and further validates our proactive commitment to the region in prior years. The Asia market remains our strategic priority, and we are confident to continue growing our business in the region in 2015."
