CTDC Entered Into Up to 2.1GW PV Projects Cooperation Framework Agreements in August
07 September 2012 - 1:06PM
China Technology Development Group Corporation ("CTDC" or "the
Company") (Nasdaq:CTDC), a growing clean energy group that provides
solar energy products and solutions, today announced that it has
entered into a number of cooperation framework agreements with
several PV industry players regarding cooperation on PV projects
with a total of 2.123GW capacity in the coming three years.
CTDC has been involved in conversations with
several local and overseas companies in the solar industry for the
discussion of cooperation opportunities on future solar power
projects. Up to August 31, 2012, the Company has signed a total of
four cooperation framework agreements, details of which have been
listed below:
- 973MW PV projects cooperation framework agreement with GCL-Poly
Energy Holdings Limited (HKG:3800) and China Merchants New Energy
Holdings Limited,
- 200MW PV projects joint development agreement with Hareon Solar
Technology Company Limited (SHA:600401) and China Merchants New
Energy Holdings Limited,
- 450MW PV projects cooperation framework agreement with Znshine
PV-Tech Company Limited and China Merchants New Energy Holdings
Limited, and
- 500MW PV projects cooperation framework agreement with
Astronergy Company Limited and China Merchants New Energy Holdings
Limited.
Within the next 3 years, CTDC will take an intermediary role as
a coordinator among different parties for the upcoming PV projects
and will be remunerated for a commission fee based on the services
provided.
Sean Liaw, President of the Company commented: "These activities
are expected to bring more diversified business opportunities to
the Company and we are looking forward to playing an important role
in global solar project development."
About CTDC:
CTDC is a fast growing clean energy group in China
based in Hong Kong, providing solar energy products and solutions
to the global market under the "LSP" brand. CTDC's major
shareholder is China Merchants Group, a state-owned conglomerate in
China (http://www.cmhk.com).
For more information, please visit
http://www.chinactdc.com.
Forward-Looking Statement
Disclosure:
It should be noted that certain statements herein
which are not historical facts, including, without limitation,
those regarding: A) the timing of product, service and solution
deliveries; B) the Company's ability to develop, implement and
commercialize new products, services, solutions and technologies;
C) expectations regarding market growth, developments and
structural changes; D) expectations regarding the Company's product
volume growth, market share, prices and margins; E) expectations
and targets for the Company's results of operations; F) the outcome
of pending and threatened litigation; G) expectations regarding the
successful completion of contemplated acquisitions on a timely
basis and the Company's ability to achieve the set targets upon the
completion of such acquisitions; and H) statements preceded by
"believe," "expect," "anticipate," "foresee," "target," "estimate,"
"designed," "plans," "will" or similar expressions are
forward-looking statements. These statements are based on
management's best assumptions and beliefs in light of the
information currently available to it. Because they involve risks
and uncertainties, actual results may differ materially from the
results that the Company currently expects. Factors that could
cause these differences include the risk factors specified on the
Company's annual report on Form 20-F for the year ended December
31, 2011 under "Item 3.D Risk Factors." Other unknown or
unpredictable factors or underlying assumptions subsequently
proving to be incorrect could cause actual results to differ
materially from those in the forward-looking statements. The
Company does not undertake any obligation to update publicly or
revise forward-looking statements, whether as a result of new
information, future events or otherwise, except to the extent
legally required.
CONTACT: PR/IR Department
China Technology Development Group Corporation
Tel: +852 3112 8461
Email: serena.wu@chinactdc.com
Web: www.chinactdc.com
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