China Sunergy (CSUN) Signs Lease Agreement for Building New Solar Panel Factory with Seul Holding

400 MW of high efficiency solar module manufacturing facility in Sacramento

China Sunergy Co., Ltd. ("China Sunergy" or "the Company"), a specialized solar cell and module manufacturer, together with Seul Energy Manufacturing Pte, Ltd, subsidiary of Seul Holding Pte Ltd, has entered into a lease agreement for building up to 400 MW of high efficiency solar module manufacturing facility. The new plant, located in McClellan Park, Sacramento County, California is expected to begin operations in September 2017.

As a major step forward in CSUN's global operations strategy, the new plant with fully automatic production lines and covering approximately 140,000 square-foot aims to efficiently serve customers across the U.S which is the second largest market for the applications of solar energy. The new plant expects to create over 150 job opportunities locally.
Mr. Tingxiu Lu, Chairman and CEO of China Sunergy commented, "We are delighted to see we made solid step toward introducing CSUN-branded and Made-in-America solar modules to local customers. Our new state-of-the-art facility will have positive impact on the Company's strategy of expanding its market share in the U.S market and benefiting the development of local economy through the jobs created and investment made."
"Although the solar industry is still facing headwinds, looking ahead, it possesses great potential as price for fossil fuel is continuously rising and the sun's energy supply is inexhaustible and pollution-free. Diversifying our manufacturing base to America helps enhance our global supply chain and minimize any negative impacts from anti-dumping cases in the US, or elsewhere. We are confident that together with our partner, Seul Holding, the Company is well positioned to capture future industry growth." Mr. Lu Continued
Mr. Egemen Seymen, Co-Founder of Seul Holding commented "Today's groundbreaking proves that CSUN follows promises with action. CSUN's Manufacturing Facility in USA is an important step forward in our strategy, strengthening our position in this key market"
"It enables us to grow our already significant presence in America and to be closer to our U.S. customers. At the same time, the solar growth in USA gives us more flexibility to increase production across America to meet local and also global demand. CSUN is moving quickly to expand its presence in the United States with new technology, new products and now, a new factory." said Egemen Seymen.
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. designs, manufactures and delivers high efficiency solar cells and modules to the world from its production centers based in China, Turkey, South Korea and Vietnam. China Sunergy also invests in high potential solar projects. Founded in 2004, China Sunergy is well known for its advanced solar cell technology, reliable product quality, and excellent customer service.
For more information, please visit http://www.csun-solar.com.
About Seul Holding Pte, Ltd.
Headquartered in Singapore, Seul Holding's affiliates are active in the entire value chain of solar photovoltaics. Seul Energy Manufacturing Pte, invests in manufacturing facilities worldwide whereas Arcor Inc develops, finances, constructs and operates Solar PV projects in all around the world with headquarters in the U.S. and 4 global offices in India, Turkey, Singapore and Mauritius. Headquartered in Netherlands, Seul Ventures' inception is to match international capital with attractive renewable energy projects in various geographies. Endepot Global Pte , opearting in many countries, is a specialist wholesaler of photovoltaic equipments such as solar modules, inverters and all other components. At Seul, we are responding to the worldwide growing demand for renewable and affordable energy by supplying products to generate electricity.
For further information, please visit Seul Holding's website at http://www.seul.sg

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