|Tuesday, 19 July 2011, 18:20 HKT/SGT|
|Scheduled to deliver the solar panels in the second half of 2011|
HONG KONG, July 19, 2011 - (ACN Newswire) - Anwell Technologies Limited ("Anwell" or the "Group"), announced that its wholly owned subsidiary, Sungen International Limited, has won a contract worth approximately US$20 million to supply the Group's in-house produced amorphous silicon (a-Si) thin film solar panel for a solar farm project in India. The thin film panel has been scheduled for delivery in the second half of this year.
Anwell's expansion into India's lucrative solar market is opportune as the country is aggressively expanding its solar power capacity. The Government of India has rolled out its National Solar Mission, a major 3-phase solar roadmap to meet a 20GW large scale grid-connected solar power capacity target by 2022. The 20GW solar masterplan is expected to attract an overall investment of about US$70 billion.
"This contract marked a significant expansion of oversea partnership for Anwell's solar panel business. We look forward to building more long-term partnership with leading solar companies worldwide as we further expand our footprint. Coupled with our strong research and development capability, our plan to increase the thin film solar panel production capacity to 1.5GW within 5 years will allow us to capitalize on fast-growing global demands for thin film solar panel," said Franky Fan, Executive Chairman & CEO
Anwell is moving firmly towards become a major producer of thin film solar panels worldwide. In June this year, the Group made two announcements on securing a total of RMB 1.2 billion long-term funding from the municipal governments of Dongguan and Anyang in China. These funds are to be used for the construction of Anwell's solar panel production plants in these two cities.
Anwell Technologies Ltd. (SES:G5X.SI or ANW:SP) ("Anwell") is a global leader in providing turnkey production solutions for optical media replication business. The Group's activities include manufacturing and sales of optical media production lines and media products. With the various proprietary technologies developed since the Group was founded in year 2000, Anwell has continued to study the opportunities to tap into other industries, including OLED, solar industries and etc. The Group officially announced its entry into the solar business in 2008. The Group began mass production with its own proprietary equipments at its thin film solar production plant in Henan, PRC in March 2010. For more information, please refer to www.anwell.com .
Investor Relations Contact
Ken Wu, CFO
Anwell Technologies Limited
Tel: +852 2499 9178
Fax: +852 2499 9170
Gabriel Tan / Edward Mai
Financial PR Pte Ltd
Tel: +65 6438 2990
Fax: +65 6438 0064
July 19, 2011 18:20 HKT/SGT
Topic: Contract Awarded
Sectors: Financial General, Alternative Energy
From the Asia Corporate News Network
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