ET Solar Group Signs $365 Million Photovoltaic Order with Wattner Group in Germany

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Researched by Industrial Info Resources (Sugar Land, Texas)--ET Solar Group Corporation (Nanjing, Jiangsu) signed a $365 million contract with Wattner Group (Cologne, Germany) recently. This is the largest overseas order ever received by a Chinese photovoltaic enterprise, the local Taizhou Daily reported on January 19, 2009.

The contract was signed between ET Solutions AG, a wholly owned subsidiary of ET Solar Group, and Wattner Group, a large photovoltaic product-integrator in Germany, on December 16, 2008.

Wattner Group plans to build a 50-megawatt photovoltaic power station in Germany, which could supply power to about 15,000 households in southern Europe. According to the contract, ET Solutions, as the system provider, will be responsible for the engineering, procurement and construction of the power station.

In June 2008, ET Solar Group initiated the concept of "third-generation photovoltaic power stations" based on its products. Compared with the first and the second generation products, the new generation of photovoltaic power station could improve power output 30% and is features a computer control system.

China is currently the largest producer of photovoltaic products in the world. Major players include Suntech Power Holdings Comapny Limited (NYSE:STP) (Wuxi, Jiangsu), Trina Solar Limited (NYSE:TSL) (Changzhou, Jiangsu) and China Sunergy Company Limited (NASDAQ:CSUN) (Nanjing).

Different from the above enterprises, ET Solar Group is the first solar-power EPC solution-provider in China. As the core of the competitive force of ET Solar Group, the "third generation photovoltaic power station" is the key for winning the order, said Peng Guo, General Manager of ET Solar Group Taitong Industry Company Limited (Taizhou, Jiangsu).

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