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Thursday, 8 May 2014, 19:00 HKT/SGT

Source: Shunfeng International Clean Energy Limited
Shunfeng Enters into Cooperation with Greenfield to Entrench Market Position in European Solar PV Market
First Step Targets to Build 900MV Plants by 2015 in Great Britain

HONG KONG, May 8, 2014 - (ACN Newswire) - Shunfeng Photovoltaic International Limited ("Shunfeng" or the "Group";stock code:1165) announced today that it will cooperate with Greenfield Solar International GmbH & Co. KG ("Greenfield") to identify suitable opportunities to jointly develop solar farm projects in Great Britain in 2014 and 2015, using Wuxi Suntech as its exclusive PV panel supplier for projects. The projects, expected to range in size from 10 MW to 40 MW, would deliver a combined capacity of up to 400 MW in 2014 and 500 MW in 2015.

"This partnership highlights Shunfeng's strategy to become the largest integrated clean energy supplier globally - integrated not only in terms of manufacturing but also in terms of developing and owning clean energy producing assets," said Mr. Zhang Yi, the Chairman of the Group. "Based on Suntech's strong market presence in the solar cell and solar module market in Europe, the cooperation with Greenfield can strengthen the sales channel and secure orders for our solar products and entrench our market position in the global PV market. Meanwhile, it unveils a new milestone for the Group to embark on the development solar farm in Europe that leads us to become the leading clean energy enterprise in the world."

As part of the cooperation, Shunfeng also will supply PV inverters for the projects. Greenfield will provide EPC services for the projects.

"The United Kingdom has a goal to generate at least 30% of its electricity from renewable sources by 2020, but we cannot wait until 2020," said Suntech CEO Eric Luo. "Record pollution levels are hitting London and the south of England today. We are teaming with Greenfield to help the UK end its dependence on polluting fossil energy sources and are eager to help turn the UK's aggressive renewable energy targets into a near-term reality. Solar is one of the fastest generation assets that you can build, which is why the UK is a prime market for Suntech products."

"I am convinced that the strategic and operational cooperation with Shunfeng will be very successful and is leading the way for the industry. With Shunfeng and Greenfield, two partners have agreed on a common strategy and common operational objectives for which it has been possible to bring together the collective strengths to achieve the set goals quickly and effectively. The market-recognized competence and the excellent reputation of Greenfield in connection with the high standard of quality "made in Germany" was an important factor for Shunfeng in selecting the suitable partner for this strategic and operational cooperation." said Helmut Kube, Managing Director of Greenfield Solar International GmbH & Co. KG.

The Suntech products chosen for the utility-scale projects are 60 Cell polycrystalline modules which are excellent for weak light performance markets such as the UK and are manufactured with advanced cell technology material making them highly resistant to Potential Induced Degradation (PID), thus allowing for high performance under extreme conditions for many years.

About Shunfeng Photovoltaic International Limited
Shunfeng Photovoltaic International Limited focuses on the research & development, manufacturing and sales of wafers, solar cells and solar modules. The company also develops and finances solar power station projects in the PRC. It owns and provides operation and maintenance services to dozens of project all over the PRC.

The company is the largest independent private solar provider of solar energy in China and has delivered on-grid connection with a total annual designed capacity of 890 megawatt in 2013.

About Greenfield Solar International GmbH & Co. KG
Greenfield Solar International GmbH & Co. KG ("Greenfield"), is a German EPC company which configures, builds, operates, and maintains photovoltaic roof and ground-mounted installations across Europe and has gained a good reputation for planning, engineering, logistics with procurement and for the turnkey construction of solar farms. Greenfield has built solar farms with a track record of over 650 MW in the last years and brought them to the grid in major European countries such as Germany, Czech Republic, Italy, and United Kingdom.

Topic: Press release summary
Source: Shunfeng International Clean Energy Limited

Sectors: Energy, Alternative Energy
From the Asia Corporate News Network

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