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China Sunergy Ships 5 MW of Solar Panels To Bulgaria

May 17, 2012

It definitely isn’t the biggest solar market, but China Sunergy (CSUN :NASDAQ) is a top player in Bulgaria as they have delivered another 5 megawatts (MW) of modules to be installed in the Eastern European country.

Mitsubishi International GmbH purchased the modules and they are being installed and managed by Helios Power. The modules will be installed at the Yerussalimovo Solar Plant which will be located near the Yerussalimovo Village in Southern Bulgaria.

In 2011, China Sunergy shipped 18 MW to Bulgaria last year, or 30 percent of the total modules installed in the country.

Issuing the announcement 5 days before they announce Q1 2012 results, one would have to wonder if China Sunergy is trying to build momentum before the announcement. But with most solar companies offering less than compelling earnings reports for the last quarter, it will be interesting to see if China Sunergy can buck the trend.

Shares of China Sunergy were down 1.46 percent in late day trading.

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