LUXEMBOURG and DONGYING, China, Jan. 30, 2012 /PRNewswire-Asia/ -- CNPV Solar Power SA, a public limited liability company organized under the laws of the Grand Duchy of Luxembourg and a leading integrated manufacturer of solar photovoltaic products, today announced external confirmation of significant European content within their polycrystalline modules, qualifying them for an additional 10% premium on the Italian feed in tariffs.
Mr. Bypina Veerraju Chaudary, CNPV's COO & CTO qualified the position in more detail, "The updated Conto Energia IV feed-in tariff (FiT) policy, allows for a premium FiT payment for 'Made in Europe' modules. This clear positive payment differential has a significant financial impact for our customers. Many of our component elements are of European origin, as a result of our technical performance and quality criteria selection processes; this in part contributes to our validated competitive benefits when observing power harvested and value in use. The amended Italian FiT policy ascribes the 10% premium payment when the EU made components constitute at least 60% of the cost of the PV system. It was therefore a matter of obtaining a confirming certificate for us to attain the 'Made in EU' insignia. It is particularly exciting when our decisions, such as raw material selection for technical superiority, can then provide further unforeseen external commercial benefits to our customers."
The raw material and component testing was carried out in this case by the Institute of Industrial Certification for Mechanics (ICIM). While the period of testing was controlled by the extent and depth of the investigation into each element of the supply chain, the qualification for the premium is effective immediately.
Back to CNPV's COO & CTO; "The successes CNPV continues to yield in both emerging and established global solar markets are the results of our ongoing commitment to meeting the varying needs of regional customers. Achieving 'Made in EU' status is an additional vital component to earning the lasting trust of customers in Italy and throughout Europe, as well as supporting European suppliers who provide the technical superiority that we encompass. Utilising this approach, our customers can have it all; techno-commercial advantages, support of local industry and the luxury of a premium payment on higher harvest numbers."
About CNPV
CNPV Solar Power SA (NYSE Euronext: ALCNP), through
its wholly-owned subsidiary, CNPV Dongying Solar Power
Company Limited, is a leading integrated manufacturer of
solar photovoltaic products from the production of ingots,
wafers and cells to the assembly of PV modules. CNPV designs,
manufactures and supplies highly efficient and cost effective
crystalline solar photovoltaic modules. Reliability &
longevity are built into our world-class crystalline solar
photovoltaic modules, which undergo rigorous internal tests
and external certifications (IEC61215, IEC61730, UL, and CE)
to ensure peak performance and safety. For further
information, please visit CNPV's website at http://www.cnpv-power.com
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 fact in this
announcement are forward-looking statements, including but
not limited to, CNPV's ability to raise additional
capital to finance its activities; the effectiveness,
profitability, and marketability of its products; the future
trading of the securities 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; and other risks detailed in
the Company's filings with the Euronext in Paris. These
forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the companies
and the industry. 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.
For more information, please contact:
CNPV Solar Power SA
Bypina Veerraju Chaudary, Chief Operating Officer
Phone: +86-13656-473355,
Email: chaudary@cnpv-power.com
Scott Zhang, Manager-IR
Phone: +86-546-779-5555
E-mail: ir@cnpv-power.com
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