CTDC Embarks on China's Rooftop Solar Power Market Penetration
October 13 2011 - 8:00AM
China Technology Development Group Corporation (Nasdaq:CTDC)
("CTDC" or the "Company"), a growing clean energy group that
provides solar energy products and solutions, based in Hong Kong
with sales offices in Milan and Frankfurt am Main, announced today
that the Company's subsidiary, China Merchants Zhangzhou
Development Zone Trendar Solar Tech Ltd. ("Trendar Solar"),
celebrates the signing of 10.8MW Goldpoly On-Grid Rooftop Solar PV
("Project") contract as the turnkey project contractor.
The Project is located at the Jinjiang Economic Development
Zone, with total construction cost of RMB164 million. China's
Ministry of Finance has granted a subsidy of RMB 97.2 million for
the Project under the Golden Sun Program. The Project will cover
the 100,000 square meter rooftop space of Goldpoly's facility.
Annual solar electricity generation is expected to be approximately
10,000,000 kilowatt-hours, with annual displacement of 10,000
metric tons of carbon dioxide.
The contract was signed between Trendar Solar and Goldpoly
(Quanzhou) Science and Technology Industry Co., Ltd, a subsidiary
of Goldpoly New Energy Holdings Limited (HKSE:0686) ("Goldpoly") on
October 12, 2011 in Hong Kong. Trendar Solar will be responsible
for turnkey project management, including engineering design,
construction, installation, procurement, operations and maintenance
of the Project, which is due to be completed by June 2012.
"30% of our manufacturing facility's annual electricity demand
will come from our rooftop PV systems, without taking up extra
land-use," said Mr. Tim Yiu, Executive Director of Goldpoly. "This
pilot project highlights our commitment to low carbon footprint. We
are happy to commission CTDC to lead the construction."
"Our experienced project management and engineering team will
meet key milestones towards the completion of the largest solar PV
project in Fujian province," Alan Li, CTDC's Chairman of the Board
and CEO said. "Fujian is blessed with abundant solar radiation and
the Goldpoly rooftop project has benefitted from China's Twelfth
Five Years Plan. We are excited about the renewable energy project,
as this is CTDC's first utility-scale rooftop solar project in
China and it is a beginning for us to enter into China's rooftop
solar market."
The increasing consumption for clean energy shows China's effort
in boosting domestic consumption and moving away from export-led
growth. Under the spirit of China's Twelfth Five Years Plan
(2011-2015), the plan for accumulated PV installation is scaled up
to 10GW within five years, which has been submitted to the State
Council for approval to carry out nationwide. And 30% of the 10GW
is planned to come from rooftop solar PV installation.
About China Technology Development Group
Corporation (Nasdaq:CTDC)
CTDC is a fast growing clean energy group in China based in Hong
Kong, providing solar energy products and solutions to the global
market under the "LSP" brand. CTDC's major shareholder is China
Merchants Group, a state-owned conglomerate in China
(http://www.cmhk.com).
For more information, please visit http://www.chinactdc.com
About Goldpoly New Energy Holdings Limited
(HKSE:0686)
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) the
Company's ability to develop, implement and commercialize new
products, services, solutions and technologies; C) expectations
regarding market growth, developments and structural changes; D)
expectations regarding the Company's product volume growth, market
share, prices and margins; E) expectations and targets for the
Company's 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 the
Company's 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 the Company currently expects. Factors that could
cause these differences include the risk factors specified on the
Company's annual report on Form 20-F for the year ended December
31, 2010 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: Weining Zhang, Chief Communications officer
China Technology Development Group Corporation
Tel: +1 415 358 0899
Email: ir@chinactdc.com
Web: www.chinactdc.com
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