China Sunergy Co. Ltd. has signed a letter of intent (LOI) with SolarMax Technology Inc., a system integrator of photovoltaic systems.
According to the terms of the LOI, China Sunergy will supply 25 MW of solar cells to SolarMax throughout 2009. The supply schedule and supply volume are subject to change, depending on the cooperation performance achieved by both parties.
SolarMax will act as a sales agent and representative of China Sunergy in the U.S., and China Sunergy will receive local support from SolarMax. The parties will also work together on all projects, with each party participating at a varying level for different projects. The consummation of the cooperation under the letter of intent is subject to the execution of definitive agreements and other conditions mutually accepted by the parties.
SOURCE: China Sunergy Co. Ltd.