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Home » News » China Sunergy signs USD 160 million financing from Bank
12月31

China Sunergy signs USD 160 million financing from Bank

Posted by admin in News

China Sunergy signs USD 160 million financing from Bank

China Sunergy Co., Ltd. (Nanjing, China), a specialized photo voltaic cells and photovoltaic (PV) module manufacturer, on August 17th, 2011 announced the signing of USD 160 , 000, 000 in funding and credit ranking services from China enhancement bank loan company (“CDB”) to help fund its growth.

The contracts with CDB experienced been signed by China Sunergy’s two domestic subsidiaries, China Sunergy (Nanjing) Co., Ltd. and CEEG (Nanjing) eco-friendly energy Co., Ltd., the latter of which was obtained from affiliated provider CEEG in November 2010.

Expansion of mobile capacity, working capital

The services consist of a blend of every little bit as long-term and short-term loans. These credit ranking services will almost certainly be utilized in mobile ability expansion and as working capital, that will allow China Sunergy to pursue marketplace likelihood in the timely method and lead to its long-term development and competitiveness.

A vote of confidence

Mr. Stephen Cai, CEO of China Sunergy, commented: “We are reasonably delighted to own obtained this facility from China enhancement Bank. The bank loan bundle may good be considered a vote of self-confidence from undoubtedly one of China’s largest and most influential banks, validating China Sunergy’s industry-leading technology, powerful investigation and enhancement team, alongside while using marketplace achievable of our residence country, China.”

“We will use this monetary help to perform strategic group strategies and additional put into action our top technology. in spite of the difficult marketplace normal environment in current months, the bank loan company created offered the facility to us reliant for that information that this group is planning in route of its sustainable long-term of grid parity. CDB is contemplating forward to furnish the required funds to chinese language program photo voltaic companies to help location them for long-term growth.”

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