China Sunergy, a provider of solar cells and modules, has agreed to deliver Bulgarian partner V2M, and its affiliates, with 50 MW of multi-crystalline photovoltaic modules for projects in Macedonia and Romania.
The modules will be delivered in Q3 and Q4 of 2012. V2M, a developer of solar systems and EPC contractor, will be responsible for the EPC contracting and project development for the 50 MW projects in Macedonia and Romania. Japanese-Bulgarian Tokuda Bank has provided project and bridge financing to V2M.
V2M recently concluded its 2.2 MW Orlova Mogila solarpark project close to Dobritsch on the Black Sea Coast of Bulgaria. China Sunergy supplied modules for the project. China Sunergy’s market share in Eastern Europe has significantly increased, thanks to the company’s collaboration with partners like V2M. The company’s market share in Czech Republic and Bulgaria was over 32% and 11%, respectively, for the year ended on December 31, 2011. Hitherto in 2012, the company has supplied 24.38 MW of photovoltaic modules in total to rooftop systems and solar parks in Bulgaria.
China Sunergy’s Chief Executive Officer, Stephen Cai stated that the company is committed to expand its reach in Eastern Europe with partners such as V2M. The company is ready to supply its high efficiency photovoltaic products together with project and technical support to these promising markets.
V2M’s Managing Director, Valeri Yankov stated that the company is happy with the high-quality photovoltaic modules and professional services provided by China Sunergy. The modules deployed in V2M’s Orlova Mogila solar park project are already performing beyond expectations.