Jolywood Partners with Solar Systems to Develop Sustainable Energy In Ukraine and CIS Countries

TAIZHOU, China, March 19, 2018 /PRNewswire/ -- Jolywood (Taizhou) Solar Technology Co. Ltd ("Jolywood" or "the Company"), a leader in the research and development and mass production of N-type bifacial solar cells, has recently entered a business partnership with Solar Systems, LLC ("Solar Systems"), a Ukrainian engineering company. The two parties will work jointly to promote high-efficiency N-type bifacial solar products manufactured by Jolywood in East European and West Asian countries and endeavor to facilitate a sustainable future for local residents. Per the agreement, Jolywood and Solar Systems aim to achieve a total sales and installation of 100 MW high-efficiency N-type bifacial solar panels within three years.

Solar Systems provides engineering, procurement and construction of solar power plants (SPP) and has been seeking world-class highly efficient and advanced module technology to fulfill its SPP projects in countries including Belarus, Kazakhstan, Ukraine, Uzbekistan, and others. The N-type Bifacial Solar Cells produced and supplied by Jolywood meet their requirements, as they bolster stronger resistance to LID, maintain better performance under weak illumination and have a lower cost compared to other options such as P-type modules.

Mr. Liu Yong, Vice President of Jolywood, said: "The N-type bifacial solar cell has many features that outperform other types of modules. We are very thrilled to offer the best products to Solar Systems and work with them to help people throughout the region build a greener lifestyle."

Mr. Andrii, CEO of Solar Systems, said: "We're very happy to work with Jolywood. They're a leader in the industry and their N-type bifacial product is quite attractive for the markets that we cover, which can help our customers achieve an additional 10-30% generation yield from backside and achieve a lower levilized cost of electricity (LCOE) during its lifecycle. Both parties are confident of great success in these regions over the next few years."

Jolywood is the world leader in the development, production and marketing of high-efficiency mono-crystalline N-type bifacial solar cells. The company is the #1 N-type Bifacial Cell Manufacturer in the world.

The N-type bifacial solar panels will also be utilized in the SPP projects that Solar Systems is undertaking. Solar Systems has already supplied 13MW of solar equipment to Ukrainian solar parks, and so far in 2018 it has signed agreements for 26MW of supply to ground-mounted parks and also set up a pipeline for 6MW rooftop systems which are set to be built this year.

In recent years, Jolywood has been actively expanding its global footprint. It signed a distribution agreement with IMI Industry in Thailand last year. The partnership with Solar Systems marks another important step, as Jolywood has undertaken to explore the markets of Eastern Europe and Western Asia.

About Solar Systems, LLC

Solar Systems was established with the purpose of developing alternative energy in CIS countries. The company is focused on the introduction of innovative and highly efficient solutions in the design and construction of solar power plants (SPP).

For more information, please visit: http://www.solarsystems.pro/en

About Jolywood (Taizhou) Solar Technology Co. Ltd.

Jolywood (Taizhou) Solar Technology, a wholly-owned photoelectric technology subsidiary of Jolywood (Suzhou) Sunwatt Co. Ltd., is engaged in the research & development, production and marketing of solar cells, solar energy, silicon, and technical advisory services. The company has been accumulating new technologies since its founding and has applied for over 60 patents to date, with 23 of them having been successfully granted. Founded in 2008, Jolywood (Suzhou) Sunwatt Co. Ltd. is the largest professional manufacturer of PV backsheet worldwide, with an annual production capacity of over 100 million meters. The company also tops the global solar industry with 2.1GW in manufacturing capacity of N-type bifacial solar cells.

For more information, please visit: http://en.jolywood.cn/