China Sunergy moves into Australia with 10 MW in sales contracts

Nanjing, China-based solar cell manufacturer China Sunergy (Nasdaq:CSUN) said today it has secured several sales contracts with Victoria, Australia-based photovoltaic firm NUE, also known as NU Energy.

Under the contracts, China Sunergy said it expects to ship 10 megawatts of monocrystalline solar modules to Nu Energy through early 2010, with on-going contracts anticipated.

The modules are manufactured through a subcontracted original equipment manufacturer arrangement. Financial details were not disclosed.

China Sunergy CEO Ruennsheng Allen Wang said in a news release that Australia represents a new market for his company. He said today’s sales agreements serve as an indication of the Chinese company’s ability to deliver its products on a global level.

Today's news indicates Australia's newest clean energy law may already be making an impact. Last week, Australia passed the law requiring the country produce 20 percent of its power from renewable resources by 2020.

Also last week, China Sunergy reported better-than-anticipated quarterly results, aided by an increase in shipments, which is expected to continue for the company in the third quarter (see China Sunergy on track to return to profitability in 2Q09).

China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, launching its first partnership in Italy in June. The company entered into a six-year 53-MW sales framework agreement with Urbisaglia, Italy-based solar module manufacturer Renergies Italia (see China Sunergy partners with Italian solar manufacturer).