The lawsuit claims that Suntech failed to perform its obligations under the terms of Solar Module Sales Contract (No.C-M-201312127) and the supplementary agreement, which requires Wuxi Suntech to supply the modules after receiving ZKenergy’s combined payment totaling 206 million yuan. ZKenergy is seeking to have Wuxi Suntech restitute the payment and be liable for breach of the agreements.
Shunfeng Photovoltaic International (HK01165, “SHUNFENG PV”) acquired a controlling stake in Wuxi Suntech from Suntech Power Holdings (NYSE: STP, “Suntech Power”). SHUNFENG PV, listed in Hong Kong on July 13, 2011, is a manufacturer of solar wafers, cells and modules.
About ZKenergy: ZKenergy Science & Technology Co., Ltd is a high-tech company that specializes in the development, manufacturing and application of products in the clean energy field and supplies turnkey solutions and core parts for small-and medium-sized wind and solar integrated application systems.