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China Sunergy Signs Letter of Intent With SolarMax, a Leading U.S.-Based Photovoltaic Systems Integrator

March 18, 2009

NANJING, China, March 18 /PRNewswire-Asia/ — China Sunergy Co., Ltd.
(Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China,
today announced that it has signed a letter of intent with SolarMax Technology
Inc. (SolarMax), one of the leading system integrators of photovoltaic systems
in the United States.

In entering the letter of intent, China Sunergy seeks the enhancement of
mutual competitive advantages of both parties. According to the letter of
intent, China Sunergy will supply 25MW of solar cells to SolarMax throughout
2009. The supply schedule and supply volume are subject to change depending on
the cooperation performance achieved by both parties.

The letter of intent contemplates further cooperation between the parties
in other manners. According to the letter of intent, SolarMax will act as a
sales agent and representative of China Sunergy in the U.S., and China Sunergy
will receive local support from SolarMax. The parties will also work together
on all projects, with each party participating at a varying level for
different projects.

The consummation of the cooperation under the letter of intent is subject
to the execution of definitive agreements and other conditions mutually
accepted by the parties.

Upon signing the letter of intent, Dr. Ruennsheng Allen Wang, Director and
CEO of China Sunergy, remarked: “We are making steady progress regarding our
strategy of customer base diversification as demonstrated by entering this
mutual understanding with SolarMax. This cooperation offers competitive
advantages to both China Sunergy and SolarMax, and we hope to mutually benefit
from our partnership. We are confident that we will continue to enter into
international markets in Europe and the United States through the sales of our
advanced solar cell products.”

About China Sunergy Co., Ltd.

China Sunergy Co., Ltd. (Nasdaq: CSUN) (“China Sunergy”) is a specialized
manufacturer of solar cell products in China. China Sunergy manufactures solar
cells from silicon wafers utilizing crystalline silicon solar cell technology
to convert sunlight directly into electricity through a process known as the
photovoltaic effect. China Sunergy sells solar cell products to Chinese and
overseas module manufacturers and system integrators, who assemble solar cells
into solar modules and solar power systems for use in various markets. For
more information please visit http://www.chinasunergy.com .

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact in this
announcement are forward-looking statements. These forward-looking statements
and are based on current expectations, assumptions, estimates and projections
about the company and the industry, and involve known and unknown risks and
uncertainties, including but not limited to, the company’s ability to raise
additional capital to finance the company’s activities; the effectiveness,
profitability, and the marketability of its products; the economic slowdown in
China and elsewhere and its impact on the company’s operations; demand for the
company’s products; the future trading of the common stock of the company; the
ability of the company to operate as a public company; the period of time for
which its current liquidity will enable the company to fund its operations;
the company’s ability to protect its proprietary information; general economic
and business conditions; the volatility of the company’s operating results and
financial condition; the company’s ability to attract or retain qualified
senior management personnel and research and development staff; future
shortage or availability of the supply of raw materials and other risks
detailed in the company’s filings with the Securities and Exchange Commission.
The company undertakes no obligation to update forward-looking statements to
reflect subsequent occurring events or circumstances, or to changes in its
expectations, except as may be required by law. Although the company believes
that the expectations expressed in these forward looking statements are
reasonable, they cannot assure you that their expectations will turn out to be
correct, and investors are cautioned that actual results may differ materially
from the anticipated results.

    For further information, please contact:

    FD Asia
     Peter Schmidt
     Tel:   +86-10-8591-1953
     Email: peter.schmidt@fd.com

SOURCE China Sunergy Co., Ltd.


Source: newswire



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