China Sunergy Inks Deal With Asola

NANJING, China, Dec. 14 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, announced today that it has entered into a supply agreement (the "Agreement") with asola Advanced and Automotive Solar System GmbH ("asola"), a reputable German module manufacturing company. Under theAgreement, China Sunergy will supply a total volume of 10.2MW of solar cells to asola during 2008.

Commenting on the Agreement, Allen Wang, CEO of China Sunergy said: "Following the recent aleo & CSI sales agreements, I am pleased to announce that we have made further in-roads into the European solar market and diversified our customer base. I believe that our European customers have been extremely satisfied with the standard of our solar cell products and look forward to further expanding our European footprint."

Commenting further, Reinhard Wecker, CEO and President of asola, added: "I am very glad to have found China Sunergy who I view as a valuable partner for our 2008 expansion plans and beyond. As we look to develop our business in new markets such as the US, Italy and Spain we would like to double or even triple our purchase volumes from China Sunergy each year."

Both parties will also explore the possibility of further cooperation between 2009 and 2012.