Apollo Solar enters into USD$2.55 billion sales contract

Under the new contract, Hanergy will be supplied with equipment and integrated turnkey solutions for the manufacturing of silicon-based thin film solar photovoltaics (PV) modules by Fujian Solar.

Furthermore, Apollo Solar has also announced Hanergy as a strategic investor and one of its major shareholders.

Mr. Peng Li Bin, executive director of Apollo Solar said: "Hanergy is one of the largest and leading non-state-owned clean energy generation enterprises in China. Having Hanergy to be our strategic investor and one of our major shareholders serves to demonstrate that the technology level and research and development (R&D) capability of Apollo have been recognized by Hanergy.

"The mega order will generate large amounts of cash flow to Apollo, thus will highly enhance its R&D resources and increase the capital investment of Apollo’s R&D team, strengthening our R&D capability. It can also significantly enlarge the market share of Apollo in the global equipment and integrated turnkey solution for the manufacturing of silicon-based thin film solar PV modules supplier market and further strengthen Apollo’s leading position."