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China Sunergy Will Create more than 200 Manufacturing Jobs In California.

CSUNY: CHINA SUNERGY CO LTD (REPR 18 SHS) :0.051


Solar module factory moving forward at McClellan Business Park
By McClellan Park Articles CSUN, jobs, McClellan Park 0
Renovations are underway at the site of a planned solar module factory at McClellan Business Park that’s expected to bring more than 200 jobs to the region.

The factory, off Urbani Way on the former Air Force base, is scheduled to begin full production in March, according to Sally Zhou, chairwoman of Sunergy America LLC.

Sunergy California, which is a subsidiary of Nanjing, China-based solar cell manufacturer China Sunergy Co., is leasing the 140,000-square-foot manufacturing building that was previously a plant where J.C. Penney Co. made window coverings.

Back in February, company representatives said the factory was expected to open in mid-September. That date has been pushed back to test the factory equipment that will be used.

The first conveyors began arriving this month at the site, Zhou said, adding that trial production runs are expected to happen around the end of February.

Although crews are currently on site preparing the building, Zhou said hiring for the 200 operator jobs will begin in December.

Sunergy was granted sales and use tax exclusions by the state in June. According to documents from the California Alternative Energy and Advanced Transportation Financing Authority, based on an estimated maximum $7.8 million in equipment purchases over three years for the McClellan site, Sunergy will receive $658,721 in sales and use tax exclusions.

The state estimated the project will bring $5.9 million in net benefits for California, based on added jobs, environmental benefits derived from the solar photovoltaic modules, personal income taxes paid by employees, firm taxes on profits, property taxes and other indirect benefits.

The plant will have two automatic solar photovoltaic production lines, according to state documents. The plant will produce solar modules for residential and commercial rooftop projects, and utility-scale projects.

In February, Sunergy announced it was choosing Sacramento as the site of its first U.S. facility, citing California’s prominent role in the solar industry and savings on logistics costs. The company had considered other potential sites on the East Coast and in the Midwest.

Groups that played roles in putting the deal together included the California Governor’s Office of Business and Economic Development, the Greater Sacramento Economic Council, the Sacramento County Economic Development Department, the Sacramento Employment and Training Agency and the Sacramento Municipal Utility District.

Founded in 2004, China Sunergy designs, manufactures and delivers solar cells and modules globally from production centers in China, Turkey, South Korea and Vietnam. It also invests in solar projects.


CSUN produces most of its solar panels in Nanjing and Shanghai in China, but is unusual in having a much larger portion of its production in other countries than most Chinese panel manufacturers.
In 2013 they opened a panel assembly plant that uses imported solar cells in the Tuzla free trade zone in Istanbul, Turkey. Its capacity is apparently 300 megawatts, but so far has mostly operated at well below that. This factory’s location allows it to avoid Europe’s punitive import tariffs on Chinese made panels.
In 2014 they opened a 200 megawatt solar cell manufacturing plant in South Korea.
In 2015 they opened a panel manufacturing plant in Vietnam which sells panels under the sub-brand SolarieViet. These panels apparently have a 12 year product warranty and 25 year performance warranty. As this is their newest and presumably most up to date production facility, it may explain why feel confident enough to offer a 12 year product warranty rather than their standard 10 year product warranty, despite the fact that it’s not heavily automated.

500 jobs, solar cells and modules on many roofs...Chinese manufacturer China Sunergy helps Turkey better tap solar energy pic.twitter.com/fkQeRgSA9s

— China Xinhua News (@XHNews) March 2, 2017

Turkey: 3 GW of PV by 2023
Turkish President Erdogan stated at an energy summit that Turkey would double its energy consumption by 2023, making extensive energy investments necessary. The government aims at adding 110 GW to the current 70 GW installed power capacity by 2023. 90% of the country’s power shall be provided by gas, coal and renewable energy alike (30% each) and 10% by nuclear energy. The government’s aim is to reduce natural gas imports, which currently provide the biggest share of Turkey’s power generation (40%). Despite high insolation times, the 2023 target only includes a minimum of 3 GW of solar PV installations. Concerns are voiced in the market that the permitting process for licensed projects is quite slow and inefficient. Currently, the 2013 applications for licensed projects are being evaluated and licenses granted to 600 MW of installed capacity.




Outstanding Shares 14.835.291
Tingxiu Lu Nanjing, China 3,916,514 shares 26.4%
Credit Suisse AG Zurich, Switzerland 1,818,312 shares 12.2%
Exuberance Investment Limited Hong Kong, China 1,815,459 shares 12.2%
PraxCapital Fund II, L.P Cayman Islands, UK 891,329 shares 6.0%
Very low free float: 6,393,677 shares 43.2%
https://backend.otcmarkets.com/otcapi/company/financial-report/155675/content


State Power Investment Corp. (SPIC) — one of China’s top five state-owned electricity producers — has named China Sunergy (Nanjing) as one of its qualified multicrystalline PV module suppliers.
CSun did not disclose the terms of the arrangement, which chairman Tingxiu Lu hailed as a “milestone” in its efforts to expand its share of the Chinese solar market. The agreement could prove to be beneficial for the group, which has struggled in recent years, culminating most notably with the de-listing of its shares from the Nasdaq exchange in March 2016.
SPIC was operating about 7.1 GW of solar capacity by the end of December, in addition to nuclear, thermal, hydroelectric and wind assets, according to a statement on its website. Its biggest PV projects in China include a 500 MW installation in Golmud, Qinghai province. It has also integrated a 66 MW solar array with an aquaculture business spanning a lake and intertidal area in Jianhu county, Jiangsu province.
In addition, the Beijing-based power group claims its production facilities in Xining, Qinghai province, are capable of producing 2,500 tons of polysilicon per year. It also owns factories in Xi’an, Shaanxi province, that can annually produce 200 MW of PV cells and 200 MW of solar panels. Its registered capital stood at CNY 45 billion ($6.5 billion) at the end of 2016, with CNY 866.1 billion of assets in China and foreign markets such as Japan, Australia, Turkey, Brazil and Pakistan.
Despite its recent struggles, CSun announced plans in February to open a fully automated 400 MW solar module factory on the site of a former air force base near Sacramento, California. It is set to launch production at the facility this month. The new plant will join CSun’s fleet of overseas production bases in Turkey, Vietnam and South Korea.


About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (China Sunergy) manufactures and sells solar cell and solar module products that convert sunlight into electricity for a variety of uses. The Company also invests in, develop and operate solar power projects. The Company manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. Its principal end-products are solar modules in different sizes and power outputs but it also manufacture and sell solar cells of a range of specialties. It sells solar cells and modules under the brands of CSUN. The Company has 14 solar cell manufacturing lines which had an aggregate annual production capacity of solar cells of 504 megawatts (MW), of which 108 MW has been relocated to Turkey. It also has an aggregate annual production capacity of solar modules of 1,155 MW, of which 300 MW has been relocated to Turkey.
Employees 3800 a/o Dec 31, 2016