NANJING, China, December 22, 2011 /PRNewswire/ --
Installation to Benefit Public Housing Residents in Time for Christmas
China Sunergy Co., Ltd. (NASDAQ: CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module manufacturer, today announced that it had shipped 1.59 MW in solar panels to Emotion Energy who, in partnership with Edison Energy, installed solar panels for 117 houses in a residential rooftop project in Faifley, Scotland for the Knowes Housing Association Scotland.
This project, which addresses "fuel poverty," is the first of its kind within Scotland. According to the Department of Energy & Climate Change of the UK, households classified as living in "fuel poverty" are those who need to spend more than 10% of household income on energy to heat their homes. This PV solar rooftop project will allow 117 Knowes tenants to receive the electricity generated free of charge for 25 years. China Sunergy's customer Emotion Energy along with Edison Energy worked hard to install the project in two weeks' time, prior to a change in feed-in tariffs on December 12, 2011.
Emotion Energy's CEO, William Andrews, commented: "We are very satisfied with China Sunergy's product quality and service, and we hope to co-operate more with them in the U.K. We and China Sunergy are both committed to promoting renewable energy and a low carbon footprint in the future for the UK."
Stephen Cai, China Sunergy's CEO, agreed: "The UK is an important market, and we are very pleased to play our part in this very vivid example showing how solar energy can improve people's daily lives and keep them warm during this holiday season. We believe that by leveraging our superior product quality and word-of-mouth marketing by our various customers, China Sunergy can play a role in reducing fuel poverty not just in the U.K. but across the globe."
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilize crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect, and CSUN then assembles these solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas EPCs, system integrators, and solar power systems for use in various markets. For more information, please visit our website at http://www.chinasunergy.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts in this announcement are forward-looking statements. These forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company and the industry, and involve known and unknown risks and uncertainties, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; litigations and other legal proceedings, including the ultimate outcome of any decisions by the ITC and DOC on the petitions filed; the economic slowdown in China and elsewhere and its impact on the Company's operations; demand for and selling prices of the Company's products, the future trading of the common stock of the Company; the ability of the Company to operate as a public Company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; future shortage or availability of the supply of raw materials; impact on cost-competitiveness as a result of entering into long-term arrangements with raw material suppliers and other risks detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Investor and Media Contacts: China Sunergy Co., Ltd. Elaine Li Phone: +86-25-5276-6696 Email: Elaine.email@example.com Brunswick Group Hong Kong Hong Kong Ginny Wilmerding Xiaoxiao Nina Zhan Phone: +852-3512-5000 Phone: +852-3512-5000 Email: firstname.lastname@example.org Email: email@example.com
SOURCE China Sunergy Co., Ltd.