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CTDC Signs LOI To Co-Develop Xiamen Bay Solar City
Hong Kong (SPX) Jul 10, 2008 China Technology Development Group has announced that the Company signed a Letter of Intent ("LOI") with China Merchants Zhangzhou Development Zone ("CMZD"), to co-develop the Xiamen Bay Solar City during the Solar City's grand opening ceremony held in CMZD on June 28th. The LOI was signed by Alan Li, Chairman and CEO of CTDC and Mr. Bin Wu, General Manager of the CMZD. Under the terms of the letter, 100 acres within the CMZD have been designated for the construction of the solar city project, which will incorporate CTDC's current SnO2 production lines and its future BIPV applications projects. In addition, CMZD agreed to commit in providing ongoing cooperation for CTDC to further develop its a-Si solar thin-film technology. "We are delighted to receive this assurance of continued strong cooperation and mutual support between China Merchants Zhangzhou Development Zone and CTDC," commented by Alan Li. "The commitment will provide opportunities for us to further develop and expand the SnO2 production facility within the Xiamen Bay Solar City. In addition, it will allow us to better execute our expansion strategy in the broader downstream BIPV market." Moreover, over one hundred guests attended the ceremony, including government officials, financial analysts and solar industry leaders from Mainland China, Taiwan, Hong Kong and the United States. Among the industry leaders who joined the opening celebration was Mr. William P. Nesmith, Senior Energy Advisor of the National Association of State Energy Officials (NASEO) in the United States. Mr. Nesmith commented, "The Xiamen Bay Solar City development incorporates the global trends of a rapidly growing renewable energy sector, and demonstrates the emphasis that the PRC local government's stronger support of the renewable energy sector, while highlighting the capabilities and social responsibility of Chinese solar energy enterprises." Community Email This Article Comment On This Article Share This Article With Planet Earth
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