Under the terms of the agreement, CNPV has said it will supply Standby Europe with 150 megawatts peak (MWp) photovoltaics (PV) modules from 2011 to 2013.
Forty MWp of PV modules are scheduled for delivery next year; the remaining 50 MWp and 60 MWp are expected to be delivered in 2012 and 2013, respectively.
Mr. Vaclav Prihoda and Mr Jan Buric, joint managing drectors of Stand-by Europe commented: "The introduction of CNPV to our market has proven an immense success … Most of our competitors in the local market are looking to 2011 with reductions in scale. Due to our relationship with CNPV, we (Stand-by Europe) are increasing projections as exhibited in our increased volumes within this agreement."
The agreement was signed in the presence of the local government, Sinosure and China Development Bank officials on October 22 in Dongying City, China.