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China Sunergy Co. Ltd. (CSUN) Secures Up To 7MW Supply Contract With Major Dutch Solar System Integrator Oskomera

|Includes: China Sunergy Co., Ltd. (CSUN)

China Sunergy, a top Chinese manufacturer specializing in high-tech photovoltaics (PV) with a proven track record of connecting their advanced product portfolio of extremely efficient solar cells and modules to relevant, global end markets, reported today that the company has secured yet another supply contract, this time for up to 7MW destined for residential roof tops in the Netherlands.

This latest deal with one of the largest and most well established PV system integrators in the entire country, Oskomera Solar Power Solutions B.V. (OSPS - which has built up a considerable presence executing large scale, wholesale, and high-volume residential systems across the Dutch market, as well as throughout Europe), creates a solid in-road for CSUN into the rapidly emerging Dutch PV space. The kind of large scale PV work for which OSPS has become known, in addition to the massive throughput achieved for small scale residential configurations and the hearty network of relationships fostered via their maintenance/service offerings, shall all serve to open up the market for more of CSUN's catalog through this deal's impact.

CEO of CSUN, Stephen Cai, was clearly pleased at the chance to strike this supply partnership with such an "important player in the European solar market" as OSPS and pledged to nurture such long-lasting, key relationships amid the brutal macroeconomic conditions.

CSUN will be supplying their top of the line polycrystalline solar modules (remarked on throughout the industry for exceptional crystal purity and conformity) to OSPS for the job. And what a job it is, putting in highly-localized solar infrastructure on some 2,500 Dutch households in accordance with a project won by OSPS through the Dutch Association of House Owners' competitive bidding process. Not only is this a solid indication of the market potential for CSUN in the Netherlands, it is massive PR coup for the company in a market where such solar installations grew to 40MW in 2011 alone (Dutch Central Bureau of Statistics).

Indeed, the drive for renewable, highly-localized energy infrastructure in the Netherlands is rising to a crescendo, spurred on by new governmental incentives put out by the Dutch Ministry of Economic Affairs, Agriculture, and Innovation's associated arm, NL Agency, which offers homeowners a 15% buy down subsidy for solar PV hardware. Do the math and you can see the potential for shareholder return growth at CSUN moving forward in European markets, and especially in the Netherlands where uptake receptivity is at an all-time high.

CEO of OSPS, Dennis Gieselaar, spoke of how response by the end-users was essential to their overall business model and how OSPS had to select a reliable supplier with the kind of robust, diverse product lineup able to truly satisfy consumers. Gieselaar spoke highly of how impressed everyone at OSPS is with the quality and performance of the CSUN hardware, citing great results from architecture installed on the project (which began construction in October) thus far.

Even as Cai noted how the deal opens up a huge channel for CSUN in these choice markets, Gieselaar asserted that OSPS would love to continue collaboration with the company in the future on such projects. It's a perfect fit really; CSUN will be supplying cost-effective hardware for a PV-hungry Dutch market. Today's news comes fast on the heels of a 10MW deal for CSUN in the UK (Nov 6) and a 1.65MW sales contract execution with a major Japanese conglomerate in Osaka, INFiNi Group (Oct 15).

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