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Solarfun Power Holdings Co., Ltd. (SOLF) Announces LOI for PV Projects of 600MW

Solarfun Power Holdings Co., Ltd., a vertically integrated manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, announced that Jiangsu Linyang Solarfun Co., Ltd., a wholly owned subsidiary, has signed a letter of intent (LOI) with the government of Hohhot City to develop two solar projects with a combined capacity of 600MW.

Vice Mayor of Hohhot City, Wu Wenyuan, stated, “Hohhot City has a number of advantages in developing PV projects, including abundant sunshine and national support. After discussing with and inspecting a number of major PV manufactures in China, we selected Solarfun as a major supplier for these projects. We are excited to partner with Solarfun.”

Peter Xie, President of Solarfun, commented, “We are pleased to have signed this strategic agreement with the government of Hohhot City. This agreement demonstrates our solid market position in China and our commitment to the development of China’s PV market. Hohhot City has been approved to be one of the pioneer cities for using PV systems by the National Development and Reform Commission and it is a key junction that connects to the North China grid.”

He continued, “Hohhot City currently has the largest wind power generation capacity in China and is generally known for its extensive sunshine and commitment to renewable energy projects. We are delighted to supply Hohhot City with our high quality products and expect to further grow our business by taking advantage of the opportunities presented by the new PV incentive policies in China.”

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