Talesun Continues to Rise with 1 GW Module Agreement

Talesun, an international, premium quality producer of solar cells and modules for  the private and industrial sectors, has signed an agreement with China Merchants New Energy  Group  Ltd to provide 1 GW capacity for new solar farms  over the next  three  years.  The installations, which are to  be built both  in China  and  around the globe   will  be  owned   and   operated  by   Hong   Kong   based   project  developer  China Merchants New  Energy  Group.  The  group specializes in the  design, construction and operation of solar  power  plants.

The  agreement  commits  Talesun  to  the  provision  of  300  MW  capacity  for  the  domestic installations and 50 MW for international farms on an annual basis, over the three year term.

The aggregate investment will reach some 15 billion RMB (2.4 billion USD.)

The strategic cooperation agreement was signed at the China Merchant Group headquarters in Hong Kong and represents a new high in the rapid evolution of the module manufacturer. The company, which was formed in 2011, opened   its state of the art, fully automated production facility in the Chinese province of Jiangsu last year.   The plant produces polycrystalline  and monocrystalline solar PV modules for the domestic and international markets. Current capacity for  cell  and  module  production  is  1  GW  and  1.5  GW  respectively,  with  module  capacity expected to hit two gigawatts by the end of 2013. The solar cell and module manufacturer is part of the Zhongli  SCI-Tech  Group,  which  has invested  over 730 million  US  dollars  in the company to date. The strategic agreement speaks volumes for China Merchant's belief in the quality of it's new partner's product.

Mr.  Li Yuan,  CEO  at  the  Hong  Kong  based  China  Merchant  underlines  the  point;  “Zhongli Talesun represents the leading edge of solar technology. Through their significant investment in R&D,   they   possess   the   innovative   development   capability   to   meet   our      solar   power

requirements   into  the  future.   This  1  GW  agreement   will  accelerate   our  own  strategic 

development in the photovoltaic sector while providing Talesun with a significant foundation on

which to build ongoing capacity growth.”

The  agreement  comes  on  the  back  of  Talesun's  2011  completion  of  a  23,8  MW  rooftop installation, one of the largest in China to date, cementing its position as a major new player in the global solar energy sector.   The signing of the strategic agreement was attended by the Chairman  of  Zhongli  Talesun  Solar  Co.,Ltd,  Mr.  Wang  Baixing,    Vice  President,  Mr.  Liu Yongsheng, and CEO and COO of China Merchants New Energy Group Ltd, Mr.Li Yuan and Mr. Liaoling Xiang.

Zhongli-Talesun Chairman, Mr. Wang Baixing is excited by the cooperation; ” we are honored to work together with China Merchant Energy Group. Their name stands for excellence and longevity, two qualities that are close to our hearts. Solar energy is the main direction of the future global new energy development, although the industry is facing huge difficulties. For the moment being, this is an unavoidable rule during the development of any newly emerging industry. But the success story of the industry will continue and we will be a part of it.”

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