WALNUT, Calif., Jan. 31, 2011 /PRNewswire/ -- Sunvalley Solar, Inc. (OTC Bulletin Board:
SSOL), a leading provider of solar power technology and solar
integration systems, today announced a 1.2-megawatt solar
photovoltaic module supplying contract with TianWei SolarFilms.
This contract will secure Sunvalley
Solar panel supplying for its signed contractual projects in
Palm Desert, California, while it
also expands TianWei SolarFilms' presence in USA market.
Dr. James Zhang, President and
CEO of Sunvalley Solar Inc, commented, "Sunvalley Solar had a great achievement in
supporting farmers in Palm Desert
area to reduce their utility cost with solar energy. By now, we've
already signed ~$5M contracts with
farms in Palm Desert area. It is
extremely important that we secured the thin-film solar panels
supplying with our strategic partner TianWei SolarFilms, with best
price and payment term, plus their full technical support and
services."
Lan Tao, Vice President of
TianWei SolarFilms, stated, "A key part of TianWei SolarFilms'
strategy is to provide high quality solar modules at superior
pricing and terms for Sunvalley Solar Inc, our strategic partner in
USA, not only for its installation projects covered in this
contract, but also for its installer partners through Sunvalley's
distribution channels. This contract as well as other agreements
under discussion now will serve as the foundation for the strategic
relationship between TianWei SolarFilms and Sunvalley Solar
Inc."
The strategic relationship between Sunvalley Solar Inc and
TianWei SolarFilms will accelerate TianWei SolarFilms' U.S. market
goals and Sunvalley Solar's
ramping-up in solar system installation and distribution with
Thin-Film solar panel.
About Baoding TianWei SolarFilms Co.,
Ltd
Baoding TianWei SolarFilms Co., Ltd. is a globalized high-tech
company, which specializes in designing, manufacturing, selling and
installing thin film solar modules and related accessories. Located
in the National Renewable Energy & Equipment Industry Base in
China, TianWei boasts both an
internationally recognized R&D team and an extremely
experienced management group. TianWei SolarFilms has invested
approximately 1.2 billion RMB for
phase 1 of their production plan to reach 50 MW and will have the
capacity to reach 500 MW by 2015. To learn more, visit TianWei
SolarFilms at http://www.btw-solarfilms.com
About Sunvalley
Solar, Inc.
Sunvalley Solar, Inc. is a
leading solar system solution provider that offers comprehensive
solar energy technology, system design, installation, equipments,
and technical support for electrical contractors, builders,
homeowners, businesses/commercial buildings, and government
entities that assist them in lowering of utility bills, reducing
environmental impacts, and increasing energy reliability and
independence through solar energy. Located in Los Angeles, California, Sunvalley Solar, Inc. is committed to reducing
the world's carbon foot print from traditional energy sources to
make renewable sources such as solar the nation's mainstream source
of power.
To learn more, visit www.sunvalleysolarinc.com.
Forward-Looking Statement: The statements in the press release
that relate to the Company's expectations with regard to the future
impact on the Company's results from acquisitions or actions in
development are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. The
statements in this document may also contain "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
When used in this press release, the words "anticipate," "believe,"
"estimate," "may," "intend," "expect" and similar expressions
identify such forward-looking statements. Forward-looking
statements are subject to risks, uncertainties, and other factors
that could cause actual results to differ materially from those
contained in such statements. Such risks, uncertainties, and
factors include, but are not limited to, future capital needs,
changes, and delays in product development plans and schedules, or
market acceptance.
SOURCE Sunvalley Solar, Inc.