Key Developments: China Sunergy Co Ltd (CSUN.O)
1.68USD
17 May 2013
$0.11 (+7.01%)
$1.57
$1.52
$1.70
$1.52
170,012
68,077
$2.45
$1.03
Latest Key Developments (Source: Significant Developments)
China Sunergy Co Ltd Signs Sales Contract With INFiNi In Japan
China Sunergy Co Ltd announced that it has signed a sales contract of 1.65MW of solar modules with INFiNi Group (INFiNi), a conglomerate headquartered in Osaka, Japan. China Sunergy's solar modules will be shipped by the end of October 2012 and installed in Okayama First Solar Plant in Japan, the first ground-mounted solar project of INFiNi. Full Article
China Sunergy Co Ltd Inks Sales Contract With Carillion Construction, Marking First Shipment to Dubai
China Sunergy Co Ltd announced that it had shipped 72KW multi-crystalline solar modules early this month to Carillion Construction Ltd. (Carillion Construction), a UK-headquartered multinational company dedicated to sustainable and green energy projects. China Sunergy's solar modules would be installed in a trial project of Emrill, in Dubai, United Arab Emirates. Emrill is one of the leading integrated facilities management companies in the United Arab Emirates, and an affiliate company of Carillion Construction. This project would mark China Sunergy's first shipment into the United Arab Emirates. Full Article
China Sunergy Co Ltd to Supply 50 Megawatts of Solar Modules to Bulgaria’s V2M-SeeNews - The Corporate Wire
SeeNews - The Corporate Wire reported that China Sunergy Co Ltd has agreed to supply 50 megawatts (MW) of multi-crystalline solar modules to Bulgarian solar system developer V2M and its affiliates for projects that will be carried out in Romania and Macedonia. The deliveries are planned for the third and fourth quarters of 2012. V2M Ltd, a Bulgarian solar system developer and EPC contractor established in 2010, recently completed its 2.2 MW Orlova Mogila solar park project near Dobrich, on Bulgaria's Black Sea coast, with modules supplied by China Sunergy Co Ltd. With regard to the 50 MW projects in Romania and Macedonia, V2M is to be responsible for the project development and EPC contracting. V2M has secured project and bridge financing from Japanese-Bulgarian Tokuda Bank. At the end of 2011, China Sunergy Co Ltd held a market share of more than 11% in Bulgaria. So far in 2012, it has shipped a cumulative total of 24.38 MW in solar modules to Bulgaria for solar parks and rooftop systems. Full Article
China Sunergy Co., Ltd. Expands Market Share In Australia With 7.8MW Sale To Urban Group Energy
China Sunergy Co., Ltd. announced that it had signed a 7.8MW solar module sales contract with Urban Group Energy, the energy arm of Urban Group Australia, one of the top conglomerate companies in Australia. Delivery of the solar modules was scheduled to be completed by the end of August 2012. Urban Group Energy's services include the wholesaling and distribution of solar PV panels and grid tied inverters throughout Australia. Full Article
China Sunergy Co., Ltd. Delivers Solar Modules for Bulgaria's Yerussalimovo Solar Park-MarketLine
MarketLine reported that China Sunergy Co., Ltd. announced that the Company has completed delivery of 5 Megawatt in solar modules to Bulgaria for the Yerussalimovo Solar Park. The modules were sold to Mitsubishi International GmbH and are being installed and managed by Helios Power. Helios Power has been a strategic partner for China Sunergy Co., Ltd. in Bulgarian market starting from 2010. Yerussalimovo Solar Plant is located in the vicinities of Yerussalimovo Village, Southern Bulgaria. Further details were not disclosed. Full Article
China Sunergy Co., Ltd. Enters Into Solar Module Supply Agreement
China Sunergy Co., Ltd. announced that the Company has entered into another solar module supply agreement, this time for 31 MW, with Renewable Energy, a subsidiary of renowned European solar distributor and project developer SUNfarming Group. Full Article
China Sunergy Co., Ltd., China Electric Equipment Group And DuPont's DuPont China Holdings Announce Strategic Collaboration
China Sunergy Co., Ltd. announced that the Company, together with China Electric Equipment Group (CEEG) have signed a Letter of Intent with DuPont's DuPont China Holdings (DuPont) for strategic collaboration relating to photovoltaic (solar) technologies & materials, power transformer, insulation and aircraft composite materials over a three-year period. This strategic collaboration among the parties includes photovoltaic, power transformer, as well as insulation and aviation composite materials. It is anticipated that the strategic collaboration will help improve product quality, enhance the collaboration and development of new products, new applications and new markets. The strategic collaboration offers long-term benefits to the three companies. As part of this collaboration, China Sunergy has agreed to increase its purchase of photovoltaic materials from DuPont, including DuPont Solamet photovoltaic metallizations used in solar cells to achieve higher cell efficiency and DuPont Tedlar polyvinyl fluoride film based backsheet for solar module protection. It is hoped that the collaboration will help advance the development of new and improved technologies and product quality improvements, further increasing efficiency and overall system cost reductions, to help reach grid parity faster. Full Article
China Sunergy Co., Ltd. Announces Appointment Of Chief Financial Officer
China Sunergy Co., Ltd. announced that it has appointed Mr. Yongfei Chen, previously the acting Chief Financial Officer of the Company, as the Chief Financial Officer (the CFO), effective immediately. Under the employment agreement between China Sunergy and Mr. Chen, he is employed for an initial three-year term. Full Article
China Sunergy Co., Ltd. Announces New Sales Contract Of 1.89MW Quasar Modules
China Sunergy Co., Ltd. announced the sale of 1.89MW in Quasar products to Bulgaria, under a contract signed with M1 Solar Plant, a special purpose vehicle company registered by Helios Power, a recognized player in the energy market. The project is expected to be completed in February 2012. The Company has started shipping in mid-December and will deliver the remainder before the end of January 2012. Full Article
China Sunergy Co., Ltd. Reaches Final Settlement With REC Wafer Norway AS
China Sunergy Co., Ltd. announced that it has agreed to settle all disputes with REC Wafer Norway AS (REC Wafer) and that REC Wafer has released the USD50 million bank guarantees. The amount held in escrow by the banks has been released to China Sunergy. The Company entered into a settlement agreement with REC Wafer on October 17, 2011, and on October 28, 2011, the Company made a settlement payment to REC Wafer. The settlement amount is not being disclosed, yet it has very limited impact on China Sunergy's profitability. On the date of this announcement, November 4, 2011, China Sunergy has confirmed that it has received the USD50 million bank guarantees that have been released by REC Wafer. Full Article
Weak prices push China Sunergy to seventh straight loss
April 12 - Solar cell and module maker China Sunergy Co Ltd reported its seventh straight quarterly loss as panel prices remained weak.
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