CSun gets 10MW Romania order
China Sunergy has clinched an order from its newly minted factory in Turkey, with plans to deliver 9.9MW of modules to Spanish EPC player Bester Generacion for projects in Romania.
CSun began shipping modules from its Istanbul plant in June, initially pointing to a 6.4MW order from a “well-known French customer”, to be delivered by this month.
But the order from Bester, based near Seville, is the largest CSun has announced to date from its Turkey factory.
The modules will be delivered next month for two ground-mount projects in Romania, which “should continue to offer attractive opportunities in the future”, according to Nanjing-based CSun.
CSun indicated that it will expand its “collaboration” with Bester, which has installed some 250MW of capacity across Europe.
The global PV industry has looked on with fascination as CSun built and commissioned its factory in Istanbul, which will grow to 300MW of capacity for both cells and modules.
The company insists the decision was taken before the EU-Chinese solar spat erupted, meaning that it would not have been disappointed by Brussels’ recent decision in the case.
Rather, CSun built the Istanbul plant to be closer to customers in Europe, the Middle East and North Africa, arguing that China’s labour-cost advantage is no longer a compelling enough reason to base all of its manufacturing there.
Shares of New York-listed CSun are up nearly 80% in 2013 – on a par with many of its Chinese rivals, and enough of a boost that the company recently formally regained compliance with the Nasdaq exchange’s listing requirements.
Late last year CSun’s total market capitalisation fell below the $15m level mandated by Nasdaq. After its 2013 rally, the company is valued at nearly $40m.