The price will be reviewed mutually on a quarterly basis if the market price falls or rises with reference to the fixed prices.

The agreement was signed in conjunction with the recent 24th EUPVSEC Hamburg Conference and Exhibition, held September 21-25, 2009.

“We are very pleased to announce this strategic partnership with SET, to further strengthen the existing partnership. This new contract will significantly help to grow new projects in Germany, Belgium and other European solar markets,” stated Zhang Shunfu, CNPV’s CEO & B.Veerraju Chaudary, CNPV’s COO, CTO & member of the board. “We look forward to expanding our relationship with one of our loyal strategic partners SET by providing high quality modules, premium service and leading low cost industry platform.”

“SET is proud of this new strategic sales agreement with CNPV. We consider this as a continuation of our good relationship with CNPV that supplies SET and its customer base with the best in class solar technology,” commented Helmut Schwarzer, CEO, Juergen Klaas, GM and Narjiss Conrads, COO of SET. “We aim to provide our customers maximum value with our products and services cooperating with top tier partners like CNPV is one of our principal strategies for achieving these goals in order to secure customers on a long-term basis.”