China Technology Development Group Corporation ("CTDC", the
"Company" or "we") (Nasdaq:CTDC), a growing clean energy group that
provides solar energy products and solutions with headquarters in
Hong Kong, sales offices in Milan and Munich, announced during the
Intersolar Europe 2011 in Munich, that CTDC has entered into a
strategic cooperation framework agreement ("Agreement") with two
other listed companies from China and Hong Kong, namely TBEA
SunOasis Co., Ltd. ("TBEA SunOasis", a subsidiary of Tebian
Electric Apparatus Stock Co., Ltd. (600089:CH)) and Goldpoly New
Energy Holdings Limited (0686.HK) ("Goldpoly"). The three
public companies have formally announced their newly-formed PV
investment consortium, aiming to improve efficiency and bring
comprehensive solutions to solar park construction in Europe.
This is the first time that three listed Chinese companies
have formed an investment consortium endorsing Europe's PV
development, which drew the attention of leaders from political and
business circles, among which were representatives from UBS
headquarters.
"As a solar solution provider, we will be able to reduce EPC
cost by 5% annually for the next three years in building solar
plants in Europe," said Mr. Alan Li, Chairman and CEO of CTDC.
"Construction efficiency will be improved through our efforts in
applying new materials and new technologies, including
pre-installations of cables, solar cells and inverters." Mr.
Alan Li also said that quality European solar plant builders and
developers are preferred partners to jointly make strides in
entering into a new era of solar energy.
Subject to the Agreement, the three parties will cooperate in
all dimensions within the vertically integrated solar value chain,
using their own advantages, so to increase market share and achieve
win-win results. The consortium plans to provide all key
components, including crystal silicon raw materials, solar wafers,
solar cells, modules and inverters, and etc. Building on
CTDC's established sales channels in China, Europe and the US, the
parties to the investment consortium will be able to effectively
speed up module sales, installations of integrated systems,solar
plant development, and provide EPC services.
The consortium also plans to start with a project company to
jointly invest in and construct small-size solar plants, building
momentum to develop large-scale solar plants later on.
Meanwhile, the consortium will cooperate among other things
over CTDC's initiatives: 1) the plan for photovoltaic installations
on islands in China; 2) the plan to light up families with solar
energy in France, and 3) the plan to create a renewable energy
fund.
"Our PV investment consortium has strong financial support from
China Development Bank and China Merchants Bank," said Mr. Jianxin
Zhang, CEO of TBEA SunOasis. "Given their backing of USD 10 Billion
credit facilities, we will be able to grow steadily over our
investment and construction of solar plants in Europe."
On May 31st, the German government announced that they are going
to completely abandon nuclear power in ten years' time.
Germany's abandon of nuclear power post Japanese nuclear
crisis will greatly stimulate the growth of solar industry in
Europe, the US and China, implying a golden decade of PV industry
to follow. The three listed companies have created the
consortium at the right time and right place, because not only they
will seize opportunities from the leading PV markets, but also
align with China's government policy on alternative energy
development.
"We have made history with the creation of the PV investment
consortium. We will devote our resources to supporting our joint
endeavors," said Mr. Tim Yiu, Executive Director of Goldpoly and
General Manager of Goldpoly's solar energy business. "We feel
confident that we will be leading the next golden decade of solar
energy development."
About China Technology Development Group
Corporation (Nasdaq:CTDC)
CTDC, a fast-growing clean energy group with headquarters in
Hong Kong, provides solar energy products and solutions to the
global market under the "LSP" brand.
For more information, please visit http://www.chinactdc.com
TBEA SunOasis Co., Ltd
TBEA SunOasis Co., Ltd ( "TBEA SunOasis") is a professional
hi-tech enterprise engaged in the research and manufacture of
photovoltaic products and system integration technology. TBEA
SunOasis is one of the earliest hi-tech enterprises engaged in
solar energy research and exploration.
For more information, please visit http://www.tbea.com.cn
Goldpoly New Energy Holdings Limited
(0686.HK)
Goldpoly New Energy Holdings Limited ("Goldpoly") is one of the
largest solar silicon cell producers in southern China. Currently
Goldpoly operates a highly efficient solar silicon cell production
factory in Quanzhou, Fujian Province, with an annual production
capacity of 200 MW. The Company focuses on the production and sales
of multi-crystalline silicon solar cells, with clients from
Mainland China and Taiwan, and various EU nations such as Germany,
Spain, Italy, etc.
For more information, please visit http://www.goldpoly.com
Forward-Looking Statement Disclosure:
It should be noted that certain statements herein which are not
historical facts, including, without limitation, those regarding:
A) the timing of product, service and solution deliveries; B) our
ability to develop, implement and commercialize new products,
services, solutions and technologies; C) expectations regarding
market growth, developments and structural changes; D) expectations
regarding our product volume growth, market share, prices and
margins; E) expectations and targets for our results of operations;
F) the outcome of pending and threatened litigation; G)
expectations regarding the successful completion of contemplated
acquisitions on a timely basis and our ability to achieve the set
targets upon the completion of such acquisitions; and H) statements
preceded by "believe," "expect," "anticipate," "foresee," "target,"
"estimate," "designed," "plans," "will" or similar expressions are
forward-looking statements. These statements are based on
management's best assumptions and beliefs in light of the
information currently available to it. Because they involve risks
and uncertainties, actual results may differ materially from the
results that we currently expect. Factors that could cause these
differences include the risk factors specified on our annual report
on Form 20-F for the year ended December 31, 2009 under "Item 3.D
Risk Factors." Other unknown or unpredictable factors or underlying
assumptions subsequently proving to be incorrect could cause actual
results to differ materially from those in the forward-looking
statements. The Company does not undertake any obligation to update
publicly or revise forward-looking statements, whether as a result
of new information, future events or otherwise, except to the
extent legally required.
CONTACT: PR/IR Department
Tel: +852 3112 8461
Email: ir@chinactdc.com
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