OSolar have made 1MW tracking system contract with Longyuan (Beijing) Carbon Asset Management Technology Co., Ltd, a subsidiary of China Guodian Group.
- Forms a long-term strategic alliance
Seoul, 20 April 2010 - OSolar Ltd., a professional photovoltaic engineering company, is expanding its global presence with a long-term strategic partnership with Longyuan (Beijing) Carbon Asset Management Technology Co., Ltd, a subsidiary of China Guodian Group.
OSolar announced today that the company had signed 1MW tracking system sales agreement with Longyuan.
Under the terms of the contract, OSolar along with Longyuan will supply 1MW of single-axis tracking systems to the Longyuan Golmud Solar PV power station which is expected to be on-grid by the end of this year, in Golmud Qinghai Province, China. OSolar also will provide basic design and technical consulting services for this project.
Jihun Kim, CEO of OSolar stated, "This contract with Longyuan means much to us. Since we have made an alliance agreement with Longyuan in October 2009, this is our first fruit of the partnership. We are looking forward to making further strengthened and close relationships for the promising Chinese PV market."
Wang Yao, General Manager of Longyuan (Beijing) Carbon Asset Management Technology Co., Ltd., commented, "We are very pleased to have this new contract and strategic alliance with OSolar. We could maximize synergy with OSolar's knowhow in the PV industry and Longyuan's various experiences in new energy development business."
Due to its strong partnership, both companies will jointly participate in SNEC PV Power Expo 2010, held in Shanghai, China from May 5 to 7, under the name of ‘LY Solar & OSolar'. The companies plan to introduce horizontal single-axis, tilted ground single-axis and dual-axis tracking systems.
About OSolar (www.osolar.com)
OSolar is a professional photovoltaic engineering company who provides one-stop total solutions for photovoltaic projects from consulting, licensing, and design to construction and O&M services.
OSolar has drawn remarkable attention from Korean industry for having successfully completed the fastest-installed MW PV power plant in MuAn in 2006 and the world's largest parking-lot PV power plant in HamPyeong County with an output of 2MWp in May 2007. The following year, OSolar installed the Asia's largest PV power plant (24MWp) in ShinAn, southwest of the Korean capital of Seoul, cooperating with DongYang E&C.
In addition, OSolar has recently promoted the PV business providing single-axis tracking systems in the USA and China and developing a tilted single-axis tracking system on rooftop in Japan which is the very first PV project conducted by a foreign company.
About Longyuan (www.clypg.com.cn)
Established in January 1993, China Longyuan Power Group Co., Ltd. being an entity subordinate to China Guodian (Group) Corporation is a domestic leading enterprise in renewable energy industry.
By the end of 2009, the installed capacity of CLYPG has reached 6404 MW, including 4,500MW of wind power, 1,875 MW of thermal power, 3.9 MW of tidal power, 24MW of biomass power, and 1MW of geothermal power. Longyuan is ranked No.1 in Asia and No.5 globally in terms of installation capacity in renewable energy.
On December 10th 2009, CLYPG (with the stock code of 00916) was successfully listed on the main board of Hong Kong Stock Exchange, collecting over 20 billion HK$ after over-allotment option.
CLPYG has also made greatest efforts to develop PV power in areas rich in solar resources, namely Qinghai, Xinjiang, Gansu, Tibet, Ningxia and Inner Mongolia.