China Merchants New Energy Group Ltd. has signed a strategic cooperation agreement of 1GW PV power plant with Zhongli Talesun Solar Co.,Ltd.

Zhongli Talesun Solar Co.,Ltd. has signed a strategic cooperation agreement with China Merchants New Energy Group Ltd. at the headquarter of China Merchants Group Hong Kong

The strategic cooperation agreement is to complete the development, construction and the purchase of 1GW solar power plant within 3 years, a new high is secured by zhongli Talesun in the aspects of solar power plant construction both at home and aborad.

Chairman of Zhongli Talesun Solar Co.,Ltd. –Mr. Wang Baixing, vice president –Mr. Liu Yongsheng and CEO of China Merchants New Energy Group Ltd.- Li Yuan, COO-Liaoling Xiang and other leaders attended the signing ceremony.

 

Both parties agreed that Zhongli Talesun and China Merchants New Energy Group will invest more than 300 MW solar power plants in China, and China Merchants New Energy Group will purchase, own, and operate the plant. At the meanwhile, Zhongli Talesun will develop more than 50 MW solar power plants for them annually outside of China. The aggregate investment will reach 15 Billion RMB.

CEO of China Merchants New Energy Group- Li Yuan said China Merchants New Energy Group is a new energy company belongs to China Merchants Group, principally engaged in the design, construction and the operation of solar power plants.

The 1GW strategic cooperation agreement of co-developing solar power plants both at home and abroad with Zhongli Talesun is one of the most important parts of the investment of new energy strategy development for China Merchants New Energy Group.

Zhongli Talesun has the state of the art technology & equipment and possesses the innovative development capability in solar power plant, which accelerates the development in PV industry for China Merchants New Energy Group.

Both parties fully utilizes China Merchants New Energy Group’s century-old brand, spreading out more thorough and all-round cooperation, in the hope of making contributions to the healthy development of the China PV industry.

Chairman of Zhongli Talesun- Mr.Wang Baixing said it is a great honor that Zhongli Talesun cooperates with a large-scale enterprise in Hongkong; and builds the best and the most professional operational platform for the solar power plant business.

Zhongli SCI-Tech (SZ:002309) is a China-listed company.

As an industry leader in optical communication cable, Zhongli SCI-Tech invested 5 billion RMB in solar cell & module manufacturing.

It introduced the state of the art and fully automated production lines, the current capacity for cell and module is 1GW and 1.5GW respectively.

Zhongli Talesun innovatively developed 23.8MW agricultural roof-top and 9.8MW roof-top solar power plants, which has achieved good economic benefits and social results.

During the interview with the correspondent, Chairman-Mr. Wang Baixing said solar energy is the main direction of future global new energy development, although the industry is facing huge difficulties and challenges for the moment being, this is an unavoidable rule during the development of any newly emerging industry.

All Chinese PV companies need to treat rationally when facing general loss within only one year.

Endless pricing competition will only bring more difficulties to those enterprises; and will cause anti-dumping by more and more countries as well.

The strategic cooperation agreement with China Merchants New Energy Group and the long-term strategic cooperation with GCL-Poly Energy provides Zhongli Talesun with anti-risk ability of value chain development.

China Merchants Group’s local brand and its international development and Zhongli Talesun’s state of the art technology and innovative solar power plant development ability plays a key role in this strategic cooperation agreement. Win-win cooperation and co-branding will certainly initiates innovative development mode for PV industry; and brings better and greener environment for the human beings.

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