This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

China Sunergy Deepens Partnership With Bulgarian Developer V2M To Expand In Eastern Europe

FRANKFURT, Germany and NANJING, China, Aug. 9, 2012 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module manufacturer, today announced that it had agreed to supply 50MW in multi-crystalline PV modules to its Bulgarian partner V2M and its affiliates, for projects in Romania and Macedonia, in the third and fourth quarters of 2012.  V2M Ltd, a Bulgarian solar system developer and EPC contractor established in 2010 by Valeri Yankov and MAT Ltd., recently completed its 2.2 MW Orlova Mogila solarpark project near Dobritsch on Bulgaria's Black Sea coast, with modules supplied by China Sunergy.

Together with its partners including V2M, China Sunergy has made solid progress in expanding its market share in Eastern Europe.  China Sunergy held market share of more than 11% and 32%, respectively, in Bulgaria and Czech Republic for the year ending December 31, 2011. So far this year, China Sunergy has shipped a cumulative total of 24.38MW in PV modules to Bulgaria for solar parks and rooftop systems.  

With regard to the 50MW projects in Romania and Macedonia, V2M is to be responsible for the project development and EPC contracting. V2M has secured project and bridge financing from Japanese-Bulgarian Tokuda Bank.

Valeri Yankov, Managing Director of V2M Ltd., commented on its relationship with China Sunergy, "We are delighted by the level of professional support provided by China Sunergy and by the high quality of CSUN photovoltaic modules.  The modules installed in our Orlova Mogila solar park project are already performing above expectations in the first few days after installation."

Stephen Cai, CEO of China Sunergy, emphasized his commitment to the region: "CSUN is determined to further enhance its position in Eastern Europe with strong partners like V2M. We are ready to provide our high efficiency PV products and extensive technical and project support to these up and coming markets."

About China Sunergy Co., Ltd. (CSUN)

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs