SHANGHAI, Dec. 21, 2010 /PRNewswire/ -- Solarfun Power
Holdings Co., Ltd. ("Solarfun" or the "Company") (Nasdaq: SOLF), a
vertically integrated manufacturer of silicon ingots, wafers and
photovoltaic ("PV") cells and modules in China, today announced several new business
developments in Italy, including
two significant contracts and the opening of a new office in
Milan.
Italy is advancing as a strong
PV market in Europe, with the
country's installed capacity forecast to be over 1,500 MW in 2010.
In August 2010, Solarfun
entered into an agreement with 9REN Group, a European renewable
energy company, to deliver 20.4 MW of PV modules for a new solar
park in Italy. The park is
expected to be operational by the third quarter of 2011. In
addition, the Company also signed a contract with Gestamp Asetym
Solar, a Spain-based solar
solutions company, for approximately 11 MW of PV modules. The
modules will be used for solar parks in both Spain and Italy, all of which are scheduled to be
operational in mid 2011.
In light of Solarfun's expanding activities in Italy, the Company has opened an office in
Milan. The new office is
expected to increase regional access to Solarfun's high-quality PV
products and provide technical and marketing support for utility,
commercial, and residential customers.
Mr. Claudio Giorla will head
Solarfun's Italian operations as the Company's country manager of
Business Development and Operations. Prior to joining Solarfun, Mr.
Giorla worked as a key account manager and business development
manager for the EPC contractor, Guascor Solar Italia. Previously he
served as the general plant manager at Tecnograf, Mondadori Group,
a leading European publishing company.
"I am pleased to announce the addition of Mr. Giorla to our
team," said Andreas Liebheit, VP and
Managing Director of Europe,
Middle East and Africa for Solarfun. "His addition to our
Business Development and Operations team is an important part of
implementing our growth strategy in Europe. Mr. Giorla's market knowledge and
relationships in Italy will help
support our growing customer base in this important region."
Dr. Peter Xie, President and
Chief Executive Officer of Solarfun, commented, "Solarfun's
expansion and investment in Italy
is a significant milestone in our strategy, as the Italian market
is of high priority for us in Europe. We expect our installation base
in Italy to grow to over 50 MW in
2010, driven largely by our established relationships with leading
regional developers such as Tozzi, Scatec, Gransolar, Rusol,
Meridian, the Loh-Group and 9REN."
About Solarfun
Solarfun Power Holdings Ltd. (NASDAQ: SOLF) is a leading
manufacturer of solar PV cells and modules in China, focusing on delivering high quality and
reliable products at competitive prices. Solarfun produces
its monocrystalline and polycrystalline products at its
internationally certified, vertically-integrated manufacturing
facilities. Solarfun partners with third-party distributors,
OEM manufacturers, and system integrators to sell its modules into
large-scale utility, commercial and governmental, and
residential/small commercial markets. Solarfun maintains a
strong global presence with local staff throughout Europe, North
America, and Asia.
Solarfun embraces environmental responsibility and
sustainability by taking an active role in the photovoltaic cycle
voluntary recycling program. For more information, visit:
www.solarfun-power.com.
SOLF-G
About Gestamp Asetym Solar
Gestamp Asetym is a developer of large-scale solar energy
projects, undertaking specific projects and assuming and
guaranteeing the integral execution of all stages. Gestamp
Solar belongs to Gestamp Corporation, a European multinational
company and leader in steel services centers, automotive components
and renewable energy.
About 9REN Group
9REN Group is a group of leading companies operating in the
renewable energy generation field. 9REN Group is focused on
the development, design, build and management of projects aimed at
sustainability across different renewable energy applications,
including photovoltaic energy, solar thermal, wind and many others.
9REN Group has built over 110MW of photovoltaic power plants,
of which 82 MW were built for third parties and 28 MW for its own
assets. For more information, visit:
www.9rengroup.com
SAFE HARBOR STATEMENT
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. Forward-looking statements involve inherent risks and
uncertainties and actual results may differ materially from such
estimates depending on future events and other changes in business
climate and market conditions. Solarfun disclaims any
obligation to update or correct any forward-looking statements.
For further information, please
contact:
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Investor
Contact:
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Paul Combs
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V.P. Strategic
Planning
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Building 1, 18th
Floor
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1199 Minsheng Road, Shanghai,
PRC 200135
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P.R. China
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Tel: 86-21-3852 1533 /
Mobile: 86 138 1612 2768
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E-mail: paul.combs@solarfun-power.com
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Christensen
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Kathy Li
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Tel: +1 480 614
3036
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E-mail:
kli@ChristensenIR.com
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Tip Fleming
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Tel: + 852 9212
0684
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E-mail:
tfleming@ChristensenIR.com
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SOURCE Solarfun Power Holdings Co., Ltd.