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Follow The Leaders? China Sunergy To Ship 7.8 MW Of Solar Modules To Australia

July 24, 2012

On the heels of ReneSola (SOL :NYSE) stating they were shipping 5.95 megawatts (MW) to Australia, China Sunergy (CSUN :NASDAQ) has trumped their deal by selling 7.8 MW to Urban Group Energy in Australia.

Leading solar manufacturer First Solar (FSLR :NASDAQ) has been busy developing utility-scale projects Down Under.

The energy arm of Urban Group Australia, Urban Group Energy is a wholesaler and distributor of solar-related products.

According to Adam Pearse, Executive Director and CEO of Urban Group Australia, their company has been dealing with China Sunergy since 2010.

The relationship is important to China Sunergy as the Australian market accounted for 18 percent of its total shipments in Q1 2012. China Sunergy claims to have shipped 28 MW in the first of 2012 and expects to sell more in the second half.

And despite the larger sales amount, China Sunergy’s shares couldn’t escape the drag of the European debt crisis as the stock was off 2.06 percent in midday trading.

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