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China Sunergy Co. Ltd. (CSUN) Subsidiaries Ink Deal to Ramp Annual Silicon Cell Production

China Sunergy Co. Ltd., a China-based specialized solar cell and module manufacturer, today announced that its fully owned subsidiaries China Sunergy (HK) Co. Ltd. and China Sunergy (Nanjing) Co. Ltd. are co-investing in a 1GW solar cells expansion project in Yangzhou City, with the first batch of 500MW solar cells production line is expected to be commercialized in the first half of 2012.

The project will focus on the production of the newly developed Quasar cells, developed by China Sunergy, which have demonstrated the highest cell efficiency of 18.85 percent and an average efficiency of 18.55 percent from the best batch.

Today’s announced deal is expected to increase China Sunergy’s annual silicon cell production capacity to reach large-scale Quasar cell production efficiency of more than 19 percent in the first batch and 20 percent within two years.

Dr. Jianhua ZHAO, chief technology officer, said the company’s expectations are based on the company’s current equipment and R&D capability, and that the enhanced efficiency levels will result in significant cost-cuts for its customers.

“We believe solar industry has a very promising future. We take this golden opportunity to expand our production capacity and commercialize on our leading R&D technologies with the strong support of the Yi Zheng Development Zone,” Stephen Cai, CEO of China Sunergy stated in the press release. “We are confident that this 1GW production capabilities and highly efficient Quasar cells will provide us the scale and technological edge to be better positioned for industry growth and to become an industry leading player.”

China Sunergy noted that Yi Zheng Economic Development Zone has provided the company with 500 Mu (1 Mu=667 square meters) of land for industrial use, which includes comprehensive accessibility to local drainage, water, electricity, heating, gas supply, telecommunication and traffic. It has also provided a power station of 110KV prior to the construction of the facility.

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