China Sunergy Announces Deal With Aleo Solar

NANJING, China, Feb. 18 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, today provided information on a supplementary agreement it recently signed with aleo solar AG ("aleo solar"). Under the Agreement, more than 20% of the supply will now be in the form of high-efficiency selective emitter ("SE") cells.

aleo solar, a leading German solar module manufacturer, signed an initial solar cell supply agreement with China Sunergy in October 2007. The total shipment volume under the new Agreement will remain at 30MW for 2008 but will now comprise of 7MW supplied in the form of SE cells. 2MW of the 10MW to be supplied during the first half of this year will now be in the
form of SE cells. The remainder of the cells will be shipped by the end of 2008.

Commenting on the Agreement, Allen Wang, CEO of China Sunergy, said: "SE cells represent a growing proportion of our total production and shipment levels, and we are very pleased with the response our customers have shown towards these products. As we continue to increase the overall ratio of SE cells shipped, and expand our SE production capacity, we expect to see an improvement in our 2008 gross margin as overall conversion efficiencies improve and our usage of polysilicon is reduced."

Commenting further, Jakobus Smit, CEO of aleo solar, added: "The efficiency levels China Sunergy is achieving with its SE cells are some of the best in the industry so we decided that these cells should form a greater proportion of our overall supply. Going forward we look forward to building closer ties with China Sunergy and view them as an important long-term supplier."