China Sunergy Co., Ltd. (NASDAQ: CSUN), a specialized solar cell and module manufacturer, announced that it has signed a 50 MW framework agreement with KosiFrankensolar for their Turkish projects.The two companies have already started to explore the Turkish market together.
"Now our partnership has reached a new level," states Bulent Yildiz, General Manager of KosiFrankensolar in Istanbul. "We appreciate China Sunergy's close cooperation with us and their commitment to local production."KosiFrankensolar is a subsidiary of Germany's Frankensolar group, a leading distributor for grid-connected solar installations in the Western Hemisphere with more than 20 years of experience in the international PV business.
The agreement foresees delivery of China Sunergy's high efficient polycrystalline modules within 2014, which will be used in the projects that are not required to obtain license, primarily. The main focus will be on ground mounted applications as well as some roof-top installations all over Turkey.
"From early on, we have been working with KosiFrankensolar in Turkey and consider them as an ideal partner for mutually taking advantage of the opportunities in the solar market within the vicinity of the European pioneer markets," said China Sunergy's CEO Stephen Cai.