Energy, Oil and Gas

Lightway Solar America Expands Supply Agreement with G&S Solar to Thirty-Four Megawatts

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ISELIN, N.J., March 19, 2012 (SEND2PRESS NEWSWIRE) — Lightway Solar America, Inc. (“Lightway”), the U.S. subsidiary of Lightway Green New Energy Co., Ltd., announced the execution of a Supply Agreement with G&S Solar (“G&S”) to provide thirty-four megawatts (34 MW) of multicrystalline solar modules. The Agreement requires G&S to purchase over 122,000 panels from Lightway within a one year period. Deliveries had already commenced in December of 2011 as part of an eight megawatt (8 MW) contract that has now been expanded to a total of thirty-four megawatts (34 MW).

Lightway opened their U.S. office in Iselin, New Jersey during the end of 2010 and has captured significant market share through the implementation of aggressive strategies that include the development of a bankable product, technological innovation, and a variety of financial solutions for their downstream customers. During Q4 2011, Lightway executed over 100 MW of Supply Agreements to be delivered throughout the U.S. market during the period of 2012.

Wei Qiang, CEO of Lightway Green New Energy, said, “The future success of Lightway will depend on our ability to develop long term relationships with project developers that have the capability to excel in a market that is dominated by third party financing. We are confident that G&S Solar has an investment strategy that allows them to remain financially aggressive and we are pleased to begin this new partnership that will solidify our eastern seaboard footprint.”

Gregg Wasser, Owner of G&S Solar, said, “In today’s economic environment, it was essential for G&S Solar to find a module supplier that not only met our criteria of bankability, quality and financial strength, but was also willing to become a true long term financing partner. We feel that our partnership with Lightway is a critical component of our growth strategy as we evolve into a new era of the solar industry.”

About Lightway Green New Energy Co., Ltd.:
Lightway Green New Energy is world class, vertically integrated solar panel manufacturer with 400 MW of balanced, production capacity that incorporates ingot, wafer, cell and module manufacturing. The manufacturing plant is located in a futuristic Science & Technology Park based in Gaobeidian, China that spans 2.3M square feet and is the home to over 5,000 employees. With a strong financial portfolio and the support of their strategic partnerships, Lightway will continue to expand and plans to reach 600 MW in 2013 and 1500 MW in 2014. One of the strategic markets for Lightway is the development of the U.S. region through their subsidiary, Lightway Solar America, Inc. which has a sales office in New Jersey and warehouses on both the east and west coast. For more information, go to http://www.lightwaysolarusa.com .

About G&S Solar:
G&S Solar is a PV developer and has constructed over 30MW of project since inception. G&S Solar is an affiliate of G&S Investors, which develops, leases and manages income-producing properties in the tri-state area. Founded in 1982, G&S is known in the industry for its creativity in solving development problems, particularly in sites deemed unworkable due to physical, economic and political complexities and for achieving the highest possible return on its investment. The company’s success is based upon identifying opportunities and applying solid economic forecasting, with sensitivity to political realities and retail trends. G&S has successfully executed every project it has initiated. This record has been achieved by fostering close and flexible relationships with financial institutions, local government and community groups involved in every project. For more information, please go to http://www.gssolarinstallers.com .

News Source: Lightway Solar America, Inc. :: This press release was issued on behalf of the news source by Send2Press® Newswire, a service of Neotrope®. View all current news at: http://Send2PressNewswire.com .


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China Sunergy adopts PowerGuard’s PowerClip Warranty Solution

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PowerGuard Specialty Insurance ServicesIRVINE, Calif., March 13, 2012 (SEND2PRESS NEWSWIRE) — PowerGuard Specialty Insurance Services announced today that China Sunergy Co. Ltd. (China Sunergy – NASDAQ:CSUN), a specialized solar cell and module manufacturer, has joined the growing number of solar energy providers globally to adopt PowerGuard’s unique PowerClip extended warranty protection.

China Sunergy manufactures and delivers high performance solar cell and module products globally. As one of the earliest solar cell manufacturers in China, China Sunergy began operations in August 2004 and was publicly listed on the NASDAQ exchange in 2007. Known for leading-edge technology in the photo-voltaic (PV) industry, China Sunergy has grown rapidly over the past several years. Their products have been extensively applied in the communication and urban construction fields around the world.

A specialty renewable energy program manager based in the United States, PowerGuard provides an innovative 25-year, non-cancellable quality and performance guarantee solution to back up a manufacturer’s own warranty terms.

The insurance solution, conceived and managed by PowerGuard, offers back-to-back coverage for a 10-year materials and workmanship warranty. Additionally, it offers a linear power performance guarantee over a 25-year period for panels sold by China Sunergy and covered by the warranty.

Guaranteeing warranty terms through the use of insurance provides the certainty manufacturers and their customers seek, as well as long-term stability for the industry.

Mr. Stephen Cai, CEO of China Sunergy, said, “Adoption of this warranty insurance solution showcases our dedication to providing customers more security and confidence in our products’ reliable quality and high performance. This will further strengthen our brand advantage and help enlarge China Sunergy’s customer base.”

“PowerGuard is very proud that our innovative PowerClip warranty solution has become the ‘gold standard’ for leading solar energy producers around the world,” said Mike McMullen, Managing Principal of PowerGuard. “PowerGuard will continue to support the development and success of the global renewable energy industry with unique, industry-leading products and services.”

The PowerGuard solution provides certainty and security and its warranty terms are non-cancellable and will survive even insolvency and bankruptcy. Also offered are third-party rights to the policy in case the original solar manufacturer goes out of business. These rights are backed by the capital strength of the insurance market.

Contact:
Mike McMullen
949.224.1325
mmcmullen@powerguardins.com.

About PowerGuard Specialty Insurance Services:
PowerGuard is a specialty renewable energy program manager specializing in the design and underwriting of unique insurance and risk management solutions for wind, solar and other alternative energy companies.

PowerGuard’s PowerClip warranty product is the most comprehensive contractual liability coverage available to renewable energy manufactures, project developers, power generation operators and the financial institutions who invest in them.

PowerGuard’s PowerWrap Solar Project Guarantee Policy is a simple and straightforward insurance policy that guarantees the performance of the entire solar energy system – written on investment grade paper with an insurance company holding an AA- rating from Standard & Poor’s. For more information please visit http://www.powerguardins.com .

About China Sunergy:
China Sunergy Co., Ltd. (NASDAQ:CSUN) is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilize crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect, and assembles solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas module manufacturers, system integrators, and solar power systems for use in various markets. For more information, please visit our website at http://www.chinasunergy.com .

Investor and Media Contacts:
China Sunergy Co., Ltd.
Elaine Li
Phone: + 86 25 5276 6696
Email: Elaine.li@chinasunergy.com.

Brunswick Group:
Hong Kong
Ginny Wilmerding
Phone: + 852 3512 5000
Email: csun@brunswickgroup.com.

Hong Kong
Xiaoxiao Nina Zhan
Phone: + 852 3512 5000
Email: csun@brunswickgroup.com.

News Source: PowerGuard Specialty Insurance Services :: This press release was issued on behalf of the news source by Send2Press® Newswire, a service of Neotrope®. View all current news at: http://Send2PressNewswire.com .


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Hilton Brown named as Vice President of Claims Management for PowerGuard

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PowerGuard Specialty Insurance ServicesIRVINE, Calif., March 5, 2012 (SEND2PRESS NEWSWIRE) — PowerGuard Specialty Insurance Services announced today the addition of Hilton Brown as Vice President of Claims Management. Specializing in claims management and client advocacy, Brown brings 22 years of experience to the PowerGuard team.

Brown will significantly expand PowerGuard’s claims management capabilities, allowing the company to provide a new level of excellence in customer care. Brown will oversee claims review, audits, and management plus the development of new protocol for manufacturers, client care and service, and client advocacy.

“We are very excited to have another professional of Hilton’s caliber join the PowerGuard team,” states founding principal, Mike McMullen, “The choice to increase our focus on claims management is both an investment in our clients and the renewable sector. We feel Hilton is highly qualified to bring innovative, custom solutions to both.”

Before joining PowerGuard, Brown spent nine years with Marsh, Inc., located in Los Angeles, Calif., starting as an associate consultant and progressing to the position of vice president. Brown managed client advocacy, negotiations with insurers and adjusters, vendor relations, settlement support, and claims oversight for general liability and property loss throughout Marsh’s entire western region.

“The PowerGuard model is based on innovation and an outstanding standard of client care. They are truly setting new standards in the renewable sector,” notes Brown. “I’m thrilled to be able to lend my knowledge of claims management and advocacy to this field.”

Brown is a graduate of Santa Ana College where he obtained an Associates of Arts in Liberal Arts. Additionally, he holds an Associate in Risk Management certification and a current California Fire & Casualty license.

Brown is an officer of Toastmasters International, Inc., and is recognized by the organization as a “Competent Communicator.”

Hilton Brown can be contacted at:
PowerGuard Specialty Insurance Services
Phone: 949-943-0553
Email: hbrown@powerguardins.com.

About PowerGuard Specialty Insurance Services:
PowerGuard is a specialty renewable energy program manager specializing in the design and underwriting of unique insurance and risk management solutions for wind, solar and other alternative energy companies.

PowerGuard’s PowerClip warranty product is the most comprehensive contractual liability coverage available to renewable energy manufactures, project developers, power generation operators and the financial institutions who invest in them.

PowerGuard’s PowerWrap Solar Project Guarantee Policy is a simple and straightforward insurance policy that guarantees the performance of the entire solar energy system – written on investment grade paper with an insurance company holding an AA- rating from Standard & Poor’s. For more information please visit http://www.powerguardins.com .

News Source: PowerGuard Specialty Insurance Services :: This press release was issued on behalf of the news source by Send2Press® Newswire, a service of Neotrope®. View all current news at: http://Send2PressNewswire.com .


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