In China entsteht ein neuer Solarriese

Wells Fargo Finances Six Solar Power Projects Completed by GCL-Poly

 

Projects totaling 6 MW begin operation at University of San Diego,        Antelope Valley Joint Union High School District in Southern California

Wells Fargo&Company (NYSE:WFC) and GCL-Poly Energy Holdings        Limited (3800.HK) today announced tax equity financing is complete for        solar photovoltaic (PV) projects with a capacity of 6 MW at the        University of San Diego and five high schools in the Antelope Valley        Joint Union High School District. The six GCL-Poly sponsored projects        were funded by Wells Fargo through a joint program announced in November        that will provide over $100 million in funding to solar PV projects by        the end of 2011.    

The program allows GCL-Poly subsidiary GCL Solar Energy, Inc. to        cost-effectively provide a clean and reliable source of electricity to        its customers, including schools, municipalities, corporations, and        utilities across the U.S. The projects at the University of San Diego        and Antelope Valley Joint Union High School District are the first to be        completed under the agreement. Both schools will purchase the        electricity produced by the systems under long term power purchase        agreements (PPAs).

The 1.2 megawatt (MW) system at the University of San Diego will provide        approximately 15 percent of the institution's energy needs. Nearly 5,000        solar panels top the roofs of the university's academic buildings,        residence halls, parking structure and a pavilion. The system, which is        the tenth-largest solar facility on a college campus in the United        States, was developed under GCL Solar's partnership with AMSOLAR, a        solar developer focused on projects for educational institutions.    

The five projects completed last December for the Antelope Valley Joint        Union High School District, ranging from 200 kilowatts (kW) to 1.2 MW        each, are part of a series of projects at 10 schools in the greater Los        Angeles area expected to be completed early in 2011. Once finished by        GCL Solar and its strategic development and asset management partner        PsomasFMG, these projects will be the largest solar power installation        at a single school district in the U.S constructed to date. With more        than 41,000 PV panels, the system is projected to save the school        district more than $40 million in energy costs over the next 20 years.

To date, Wells Fargo has invested more than $480 million in solar        projects and has become a leader in providing capital and support to        renewable energy companies. Since making its first project commitment in        2006, Wells Fargo has deployed more than $2.1 billion of tax equity into        more than 250 renewable energy projects in the U.S. The projects account        for over 4,200 MW of new clean energy capacity across 25 states.        Combined, these projects generate approximately 12 terawatt-hours of        electricity per year, which is enough clean, renewable energy to power        about 1 million American households.

About Wells Fargo

Wells Fargo&Company (NYSE: WFC) is a nationwide, diversified,        community-based financial services company with $1.3 trillion in assets.        Founded in 1852 and headquartered in San Francisco, Wells Fargo provides        banking, insurance, investments, mortgage, and consumer and commercial        finance through more than 9,000 stores, 12,000 ATMs, the Internet        (wellsfargo.com and wachovia.com), and other distribution channels        across North America and internationally. With approximately 280,000        team members, Wells Fargo serves one in three households in America.        Wells Fargo&Company was ranked No. 19 on Fortune's 2009        rankings of America's largest corporations. Wells Fargo's vision is to        satisfy all our customers' financial needs and help them succeed        financially.

About GCL-Poly Energy Holdings Limited (stock code: 3800.HK)

GCL-Poly Energy Holdings Limited is China's largest polysilicon producer        and one of the world's leading wafer suppliers and also a top green        energy enterprise in China. Annual polysilicon production capacity        attained 21,000MT at the end of 2010, and the quality of polysilicon        products reached electronic grade level. The Group's wafer production        capacity already achieved 3.5GW at the end of November 2010. In        addition, the Group owns a 20MW solar farm in Xuzhou, Jiangsu province,        which is currently the largest solar farm in China. For more information        about GCL-Poly, please visit the company's website at www.gcl-poly.com.hk.

Contacts:

Wells Fargo
Media
Katie Ellis, 415-222-3767
Investors
Jim        Rowe, 415-396-8216
or
GCL-Poly Energy Holdings Limited
Mr.        Joseph Chow, (852) 3761 3168
Josephchow@gcl-power.com.hk
Mr.        Wang Manjian, (852) 3761 3239
Wangmanjian@gcl-power.com.hk
Ms.        Jessy Fang, (852) 3761 3281
Jessyfang@gcl-power.com.hk
or
Wonderful        Sky Financial Group
Ms. Joanne Chan, (852) 9616 2676
joannechan@wsfg.hk
Ms.        Daisy Sun, (852) 9799 4507
daisysun@wsfg.hk
Ms.        Echo Hu, (852) 6432 8312
echohu@wsfg.hk

China Sunergy Signs 4400 MW Long Term Wafer Supply Agreement with GCL-Poly

NANJING, China, Feb. 14, 2011  /PRNewswire-Asia/ -- China Sunergy Co., Ltd., ("China Sunergy" or the "Company") a specialized solar cell and module manufacturer based in Nanjing, China, announced today that it has entered into a long-term wafer supply agreement with GCL-Poly Energy Holdings Limited ("GCL-Poly") .

Under the terms of the agreement, GCL-Poly will supply China Sunergy with an aggregate of approximately 4,400 MW of wafers over six years. Delivery of wafers will commence in February 2011 for completion in December 2016. The agreement also contains a clause for a price adjustment mechanism based on wafer market price.

"We are very pleased to build up the long term strategic partnership with GCL-Poly," said Mr. Stephen Zhifang Cai, CEO of China Sunergy. "This agreement will strengthen our supply chain and solidify our competitive cost position in the dynamic solar industry. We expect that the partnership will positively contribute to CSUN's rapid growth in the global solar industry."

Mr. Shu Hua, the Executive Director and president of GCL-Poly, stated, "We are delighted to partner with China Sunergy, one of China's leading solar companies, and look forward to supporting China Sunergy's growth with our high quality services. We believe the partnership will be a win-win situation for both companies in the global solar industry."

About China Sunergy Co., Ltd.:

China Sunergy Co., Ltd. ("China Sunergy") is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilize crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect, and assembles solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas module manufacturers, system integrators, and solar power systems for use in various markets.

For more information please visit http://www.chinasunergy.com/.    About GCL-Poly Energy Holdings Limited

GCL-Poly Energy Holdings Limited (3800. HK) is China's largest polysilicon producer and one of the world's leading wafer suppliers and also a top green energy enterprise in China. Annual polysilicon production capacity attained 21,000 MT by the end of 2010, and the quality of polysilicon products has reached electronic grade level. The Group's wafer production capacity has already achieved 3.5 GW in November 2010. In addition, the Group owns a 20 MW solar farm in Xuzhou, Jiangsu province, which is currently the largest solar farm in China. For more information about GCL-Poly, please visit the company's website at http://www.gcl-poly.com.hk/ .

For further information contact:    FD   Helen Jing Zhu: Helen.JingZhu@fd.com   Phone: + (86) 10-8591-1958     Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts in this announcement are forward-looking statements. These forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company and the industry, and involve known and unknown risks and uncertainties, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; litigations and other legal proceedings; the economic slowdown in China and elsewhere and its impact on the Company's operations; demand for and selling prices of the Company's products, the future trading of the common stock of the Company; the ability of the Company to operate as a public Company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; future shortage or availability of the supply of raw materials; impact on cost-competitiveness as a result of entering into long-term arrangements with raw material suppliers and other risks detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

China Sunergy Co., Ltd.

CONTACT:  At FD -- Helen Jing Zhu, Helen.JingZhu@fd.com, or + (86)
10-8591-1958, for CSUN

Web Site:  http://www.chinasunergy.com/