China Solar Photovoltaic SA subsidiary CNPV Dongying Photovoltaic Power Company has entered into a long-term strategic partnership sales agreement with Stand-By Europe, a Czech project development and distribution company.
Under the terms of this strategic agreement, CNPV will supply Stand-By Europe with a total of 100 Megawatt peak of PV Modules from 2009 to 2012, which includes 5MWp of scheduled delivery during Q4 2009 at fixed prices. The remaining 25MWp, 30MWp and 40MWp are scheduled for delivery in 2010, 2011 and 2012 respectively. However the price will be reviewed mutually on a quarterly basis if the market price falls or rises with reference to the fixed prices.
CNPV expects that this new contract will significantly help it grow new projects in markets such as the Czech Republic, Slovakia, and other eastern European solar markets.