China Sunergy opens solar power cell factory in South Korea

Source:China Sunergy Co., Ltd.

China Sunergy opens solar power cell factory in South Korea

China Sunergy Co., Ltd. (CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module manufacturer, today announced that the Company's solar cell factory in Incheon, Korea has started formal operation.

Located in INCHEON-SI, KOREA, the factory covers an area of approximately 5000 m2 , and has annual production capacity of 200MW. The factory started trial production in May 2015, and turned into formal operation recently. According to current plan, once the capacity utilization rate at Korea plant reaches 80% or higher, China Sunergy will consider expanding the total production capacity of solar cells in the Korea plant to 500MW by building additional solar cell production lines . In addition, the Korea plant has begun the cooperation with local solar module manufacturers to produce CSUN-branded solar modules in order to vertically integrate its supply chain.

Mr. Tingxiu Lu, Chairman and CEO of China Sunergy commented, "We are delighted to see our facilities in Korea start formal operation. As another major step forward in CSUN's global operations strategy, the Korea plant is able to efficiently serve customers across Eastern Asia and even Asia-Pacific region, where represent growing demands for alternative energy consumption."

"Since the inception of our first oversea plant - Turkey plant, our efforts to diversify CSUN's manufacturing base never stop. The move helps to enhance our global supply chain, gain access to local customers and minimize potential negative impacts from anti-dumping cases in the US, EU, or elsewhere. Looking ahead, we will continue to improve our cost competitiveness and strengthen our global footprint by the combination of moving our existing facilities in mainland China and building new facilities in the countries which have cost and geographic advantages." Mr. Lu added.

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