China Solar & Clean Energy Solutions, Inc. a premier manufacturer and distributor of solar water heaters, space heating devices, and integrated low carbon solutions providers in the People’s Republic of China, today announced that one of its subsidiaries has signed a joint construction agreement with a Guizhou company on Eco-Buildings Projects.
On July 25th, 2011, Deli Solar Holding Ltd., a wholly-owned subsidiary of CSOL, signed a joint construction agreement with Guizhou Fuxiang Eco-Industrial City Investment & Development Co., Ltd. (short as the “Guizhou Company”) on green eco-buildings construction projects located in Guizhou, P.R.C. These buildings will be planned and applied with low carbon & eco-technologies for the purpose of energy-saving, low carbon ecology, and integrated solar energy solutions.
The agreement amounts on eco-building engineering costs are more than RMB 4 billion (approx. US 630 million) with net profit rate of approx. 16-18% and will be executed accordingly and continuously under three phases.
In the first phase, the total covered area is approximately 1.5 square kilometers, or 0.58 square miles, and the total estimated costs are from RMB 750 million to RMB 900 million (approximately $116.4 million to $14 million). The construction period will be commencing from August 2011 to December 2012.
In the second phase, the total covered area is approximately 4.0 square kilometers, or 1.54 square miles, and the total estimated costs are from RMB 2 billion to 2.4 billion (approximately $0.31 billion to $0.37 billion). The construction period is expected from August 2012 to October 2014.
In the third phase, the total covered area is approximately 2.5 square kilometers, or 0.97 square miles, and the total estimated costs are from RMB 4 billion to 4.8 billion (approximately $0.62 billion to $0.74 billion). The construction period is expected from August 2013 to December 2015. The periods of the above three phases of construction will be duplicated and cover each other.
The detailed payment arrangements from Guizhou Company to the Company, including but not limited to the payment times, amounts of each installments and inspection arrangements upon completion of each phase of the Projects, shall be subject to the parties’ separate agreements.
About China Solar & Clean Energy Solutions, Inc.
China Solar & Clean Energy Solutions, Inc. operates through its subsidiaries Bazhou Deli Solar Energy Heating Co. Ltd. (‘Deli Solar (Bazhou)’), Beijing Deli Solar Technology Development Co., Ltd., and Tianjin Huaneng Group, all located in the PRC. The Company manufactures and distributes various forms of alternative energy systems including solar thermal systems for hot water and space heating, industrial heat recovery systems, and solar-powered lighting devices. Currently, the Company has changed its strategic development from solar thermal products marketing to be a large-scale engineering projects low-carbon integrated solutions provider.
For more information, please visit https://www.delisolar.com
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