China Sunergy (CSUN) Expands Into Italy With Renergies Italia Contract

China Sunergy just scored a 53 MW sales framework agreement and a 3 MW sales contract with Italian solar module manufacturer Renergies Italia. The 53 MW sales framework agreement covers 6 years, but the agreement is not legally binding to either China Sunergy or Renergies Italia-the two companies will negotiate separate contracts that may total 53 MW over the next 6 years. The first 3 MW sales contract has already been signed, and China Sunergy will deliver 3 MW worth of solar cells to Renergies Italia this year.

In a press release,  Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy, commented on the agreement:

"An important part of China Sunergy’s growth strategy has been the development of new partnerships with industry leaders across diverse geographies. This agreement demonstrates our ability to execute on both of those initiatives despite the challenging sales environment. We are excited to have a strong partner in Renergies Italia, and to have signed this important framework agreement and sales contract in a new solar market for China Sunergy."

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