CNPV and Soltas Energy Strike 175.5 MWp Deal

LUXEMBOURG and NEW YORK, November 3, 2011 /PRNewswire/ --

CNPV Solar Power SA, a public limited liability company organized under the laws of the Grand Duchy of Luxembourg and a leading integrated manufacturer of solar photovoltaic products, and Soltas Energy Corporation, a national solar-power solutions provider, located in New York, recently inked a contract for the supply of 175.5MWp of CNPV's premium range modules.

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The agreement outlines the purchase of solar panels by Soltas Energy from CNPV Solar Power, equal to 175.5 megawatts of solar power over a 27-month time frame starting from October 2011.

"We feel confident working with CNPV," Soltas Energy's CEO Andrew Barron Worden said. "Because of our long-term relationship with CNPV, we have a comprehensive understanding of the company. Based on CNPV's corporate achievements and goals and the quality of their products, processes and technology, we feel they are an extremely solid supply partner. The quality and competitive commercials of CNPV is unmatched. This is the type of partnership that advances Soltas Energy's model."

"Leverage on this scale, has immense value," said Mr. Zhang Shunfu, CNPV's CEO and Mr Bypina Veerraju Chaudary, CNPV's COO. "Making solar an attainable and practical solution to energy provision with this level of expertise and reach is a rare commodity. We are proud to meet Soltas Energy's high standards, especially when compared to some of the more well known, larger brands. We fully subscribe to Soltas Energy's commitment to achieving 1GWp of installations by 2016, and are particularly proud to be associated with such a credible, connected and capable company. Together with Soltas Energy, we can positively impact the solar PV market."

With these positive outcomes for both companies, it is easy to overlook the real winners in the Soltas Energy business model; Commercial businesses, real estate developers, utility companies, government entities, military bases, and schools can enjoy the benefits of solar power without capital cost.

About CNPV

CNPV Solar Power SA (NYSE Euronext: ALCNP), through its wholly-owned subsidiary, CNPV Dongying Solar Power Company Limited, is a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules. CNPV designs, manufactures and supplies highly efficient and cost effective crystalline solar photovoltaic modules. Reliability & longevity are built into our world-class crystalline solar photovoltaic modules, which undergo rigorous internal tests and external certifications (IEC61215, IEC61730, UL, and CE) to ensure peak performance and safety. For further information, please visit CNPV's website at http://www.cnpv-power.com

About Soltas Energy Corporation

Soltas Energy Corporation is a solar-energy solutions provider that delivers clean, renewable energy to commercial enterprises. For more information about Soltas Energy, visit http://www.soltasenergy.com

For more information, please contact:  

CNPV Solar Power SA
Bypina Veerraju Chaudary, Chief Operating officer
Phone: +86-13656-473355,
Email: chaudary@cnpv-power.com
E-mail: ir@cnpv-power.com

Soltas Energy Corporation
Alana Chain, PR Manager
Phone: +1 212 359 0208
Email: achain@soltasenergy.com