Solarfun plans 100MW module plant to feed 600MW PV projects in Inner Mongolia

Solarfun Power Holdings Co., Ltd., a vertically integrated manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, announced that Jiangsu Linyang Solarfun Co., Ltd., a wholly owned subsidiary, has signed a letter of intent (LOI) with the government of Hohhot City to develop two solar projects with a combined capacity of 600 MW.

Vice Mayor of Hohhot City, Wu Wenyuan, stated, "Hohhot City has a number of advantages in developing PV projects, including abundant sunshine and national support. After discussing with and inspecting a number of major PV manufactures in China, we selected Solarfun as a major supplier for these projects. We are excited to partner with Solarfun."

Peter Xie, President of Solarfun, commented, "We are pleased to have signed this strategic agreement with the government of Hohhot City. This agreement demonstrates our solid market position in China and our commitment to the development of China’s PV market. Hohhot City has been approved to be one of the pioneer cities for using PV systems by the National Development and Reform Commission and it is a key junction that connects to the North China grid."

He continued, "Hohhot City currently has the largest wind power generation capacity in China and is generally known for its extensive sunshine and commitment to renewable energy projects. We are delighted to supply Hohhot City with our high quality products and expect to further grow our business by taking advantage of the opportunities presented by the new PV incentive policies in China."

Solarfun Secures RMB400 Million Credit Facility With Bank of Shanghai

Solarfun Power Holdings Co., Ltd. ("Solarfun" or "the Company") (Nasdaq: SOLF), a vertically integrated manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, announced that Jiangsu Linyang Solarfun Co., Ltd., a wholly owned subsidiary of Solarfun, has secured a credit facility in the amount of RMB400 million from Bank of Shanghai, of which RMB300 million will be in the form of a 3-year loan.

Peter Xie, President of Solarfun, commented, "The additional credit facility provided by Bank of Shanghai gives us greater flexibility as we continue to execute on our growth strategy and will also allow us to utilize our resources to support our customers’ in terms of project financing. We are pleased to partner with Bank of Shanghai, especially during a time when many companies are facing difficulties in securing access to credit, and greatly appreciate Bank of Shanghai’s confidence in the future of Solarfun."

Solarfun Announces 5% Power Boost with Full-Square Monocrystalline Cells

SF2 Cells Feature 5% Higher Module Efficiency than Traditional Cells. Solarfun Power Deutschland GmbH ("Solarfun") announced the introduction of SF2, a line of full-square monocrystalline cells and modules. SF2 cells are a full square shape to take advantage of the entire module surface, recapturing the surface area losses of pseudo-squares. This innovative development increases the overall light-absorbing surface of monocrystalline cells, resulting in higher power output and up to 5% higher module efficiency. This increase in module efficiency and output is part of Solarfun’s extensive R&D program dedicated to continuously improving cell and module efficiency and decreasing degradation.

About Solarfun

Solarfun Power Holdings Co., Ltd. manufactures ingots, PV cells and PV modules, and provides PV module processing services to convert PV cells into PV modules. Solarfun produces both monocrystalline and multicrystalline silicon cells and modules. Solarfun sells its products both through third-party distributors, OEM manufacturers and directly to system integrators. Solarfun was founded in 2004 and its products have been certified to meet TUV and UL safety and quality standards.