Solarfun (SOLF) In Supply Agreement With Nobility Solar Projects

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10:16:15 am on July 29, 2009

Solarfun just announced a supply agreement with Nobility Solar Projects. Under the agreement, Solarfun will supply Nobility with 14.2MW of PV modules, with the transaction to take place in the latter part of this year.

In a press release, executives from both companies commented on the deal:

Peter Xie, President of Solarfun, commented, “Eastern Europe, and specifically the Czech Republic, is a good new developing market for solar products. Our agreement with Nobility demonstrates our ability to not only penetrate new markets, but also quickly increase high quality, high efficiency PV module shipment volumes. Nobility is the leading distributor of solar products in Eastern Europe and we are pleased to be a part of this growing business relationship. This agreement also reflects an improvement in demand that we see for our business in the second half of the year.”

Lubomir Bures, Vice President of Nobility, declared, “This agreement secures Nobility a strong bankable partner for module deliveries. Through this partnership, Solarfun gains a significant market share in the Czech Republic and other Eastern European countries, which would be very hard to achieve without a strong local partner.”

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