aleo solar enters into agreement with solar cell manufacturer China Sunergy
18.10.2007 | Corporate NewsTotal of 30 megawatts agreed plus an option for a further 10 megawatts aleo solar AG has entered into a supply agreement with Chinese solar cell manufacturer China Sunergy Co. Ltd. (Nasdaq: CSUN) for at least 30 megawatts by 2008. The price for the first 10 megawatts to be delivered in the first half of 2008 has already been agreed.
The price for the second delivery of 20 megawatts in the second half of 2008 will be decided by March 2008. The agreement also includes an option for a further 10 megawatts. Negotiations on this option will be completed by the end of June 2008. aleo solar will craft the solar cells into high-performance solar modules. aleo solar has already purchased a significant number of solar cells from China Sunergy in 2007 that have met aleo solar's high quality standards.
Jakobus Smit, CEO of aleo solar AG, is extremely pleased with the supply agreement. "We are pleased to have won a focused solar cell manufacturer in the shape of China Sunergy as our supplier. Our solar modules are premium modules that were awarded top rating by the German product testing foundation Stiftung Warentest last year. Quality is the standard by which we also measure our suppliers. After the in-depth evaluation of China Sunergy's solar cells in 2006, we have now decided to enter into a supply agreement that represents a further element in our strategy for organic growth."
In addition to the supply agreement, both companies are aiming for a long-term business relationship. Negotiations on this will be completed by June 2008.
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The Company
aleo solar AG produces and distributes premium solar modules and systems for the international photovoltaic market. Since 2009, the Bosch Group has owned a majority of the company (DE000A0JM634), which was originally founded in 2001 and has been listed on the stock exchange since 2006. The premium manufacturer currently has aapproximately 900 employees and is represented in the key photovoltaic markets all over the world. The aleo solar group has an annual production capacity of 280 megawatts at its plant in Prenzlau, Germany. The company generated a turnover of € 279.9 million in 2012.
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