LOS ANGELES--()--Grape Solar (www.grapesolar.com), one of America’s fastest growing solar companies, today announced that it has entered a strategic supply agreement with Sungrow Canada Inc., a joint venture subsidiary of Sungrow Power Supply Co. Ltd. (www.sungrow.cn), the largest solar inverter manufacturer based in China. Under the agreement, Sungrow will provide highly rated solar inverters at the most competitive pricing ever seen in North America.
“We are fortunate to be associated with the largest, and only bankable inverter manufacturer in China with strong financial backing and large scale manufacturing capacity with proven technology advantages. This partnership with Sungrow allows Grape Solar to expand our product portfolio to an enviable position in North American markets.”
Highlights of the Agreement:
- Residential inverter market: Grape Solar agreed to purchase 10MW of Sungrow’s 3kw, 4kw, and 5kw residential inverters at the most favorable pricing. This will enable Grape Solar’s residential kits (including panels, inverters and racking) to be priced at $2.79 per watt;
- Commercial inverter market: Grape Solar agreed to purchase 30MW of Sungrow’s 100kw, 250kw and 500kw commercial inverters at the most favorable pricing. This will enable Grape Solar’s commercial solar systems (including panels, inverters and racking) to be priced at $2.69 per watt.
With these break-through low cost systems in the residential and commercial solar markets, Grape Solar is positioned as an absolute leader in the North American solar market that few can rival. Ocean Yuan, Grape Solar’s CEO, commented on the announcement, saying, "We are fortunate to be associated with the largest, and only bankable inverter manufacturer in China with strong financial backing and large scale manufacturing capacity with proven technology advantages. This partnership with Sungrow allows Grape Solar to expand our product portfolio to an enviable position in North American markets.”
Additional terms in the agreement include:
- Ontario market: Grape Solar plans on making solar panels in Ontario in order to meet Ontario Power Authority’s Feed-in-Tariff local content requirement starting January, 2011. These panels, combined with made-in-Ontario Sungrow inverters, will ensure Grape Solar’s significant competitive advantage in the Ontario and Canadian market.
Ms. Feizhen Lu, CEO of Sungrow Canada Inc., applauded the agreement, “We have selected Grape Solar as our strategic partner in North America because of its extensive installer customer base and willingness to manufacture the solar panels in Ontario, Canada to meet local content requirement under the Feed-in Tariff program. This partnership clearly sets Grape Solar and Sungrow apart from competition in terms of quality equipment delivered at the most competitive prices in North America.”
About Grape Solar: headquartered in Eugene, Ore., is a leading manufacturer of solar panels and kits directly distributed to installers and consumers in North America. For more information, visit: www.GrapeSolar.com.
About Sungrow: the largest inverter manufacturer based in China with UL and CEC certified inverters that rank higher in efficiency than many other inverters available in North America. More products to be certified by UL and CEC in the coming months. For more information, visit: www.sungrow.cn.
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