ET Solar and CECEP to Form System Development Venture in Germany

NANJING, China, June 15, 2012 /PRNewswire/ -- ET Solar Group Corp. ("ET Solar"), one of the globally leading solar PV one-stop solution providers, and CECEP Solar Energy Technology Co., Ltd ("CECEP") have indicatively agreed to establish a PV system development venture under the name of New Energy Engineering Technology GmbH ("Joint Venture") this August.

The joint venture will be set up in Munich and mainly cover project development, investment, financing, engineering, procurement and construction of PV power plants in Europe, Middle East, Australia, Africa and America.

Mr. Dennis She, President and Chief Executive Officer of ET Solar, commented: "ET Solar has been partnering with CECEP since 2010 on PV system business development in Europe, and we are pleased to take the collaboration to the next level through this strategic formation. The initiative offers a unique opportunity for us to combine our respective strengths to further develop the overseas PV markets."

Mr. Huabin Cao, General Manager of CECEP Solar Energy, added: "We are very excited to deepen our partnership with ET Solar in our contribution to the global PV industry growth. In particular, our captioned JV initiative with ET Solar will strongly facilitate our penetration into the world's emerging PV markets and help us achieve greater scalability in the next few years." 

About ET Solar

ET Solar is one of the globally leading solar one-stop solution providers. With local sales and marketing subsidiaries and offices in Asia, Europe, and North America, ET Solar has provided solar modules, turnkey solutions services and PV balance of system components to its customers in over 50 countries. To learn more about ET Solar, visit http://www.etsolar.com.

About CECEP Solar

Established in September 2009, the CECEP Solar Energy Technology Co., Ltd is a holding subsidiary of the China Energy Conservation and Environmental Protection Group. Engaged in product manufacture, R&D in Technology, project development and construction, the company is a leading enterprise in China's solar energy field. By the end of 2011, CECEP Solar has developed, constructed and operated more than 310MW projects in China. To learn more about CECEP Solar, visit http://www.cecsec.cn/