November 2008
On November 21ST, 2008, Terra Solar Global, Inc.(“TSG”), China Technology Development Group
Corporation (“CTDC”), and China Merchants Zhangzhou Development Zone (“CMZD”) signed the
Framework Agreement about cooperating together for co-developing Xiamen Bay Solar City
(“the Solar City”).
Mr. Jack C. Chu, CEO of TSG, Mr. Alan Li, Chairman and CEO of CTDC, and Mr. Bin Wu,
Executive Vice Chairman of management council of CMZD signed the Agreement which
stated the three parties work closely together to lay a multi-function PV industrial
campus. The campus contains the SnO2 TCO base plate as the pioneering sector, which
is to encompass the thin film technology R&D center, thin film modules or other PV
products manufacturing plants, PV applications deployed buildings as well as PV
products logistics center inside the 115 acres Solar City. This indeed the Solar
City absolutely help diminish carbon emissions and open up the door to green
Xiamen Bay. Moreover, the leading clean and renewable energy technology is another
fuel of its future growth and development.
With the history of Xiamen Bay is going to be made, “We are honored to co-develop
the Solar City with CTDC and CMZD,” Mr. Jack C. Chu, CEO of TSG, “With the extensive
BIPV system delivery experience coupled with advanced thin-film technology over the
last three decades, we are confident that our expertise will enable our strategic
partners to grow in PV industry. With CTDC’s extensive operation experience and
NASDAQ capital platform and CMZD’s strong local government support, we are all very
well placed to be right partners to each other to co-develop the Solar City, which
will ultimately benefit the Chinese people and Chinese economy.”
Mr. Alan Li, CEO of the CTDC, said: “We singed a MOU with TSG in October 2007
as well as a Letter of Intent with CMZD in June 2008. The signing of the
Agreement marks our cooperation has entered into a new stage. We believe the
strategic partnership will enable us to provide low-cost thin film PV products
to the market and facilitate the widespread application of solar based technology
in CMZD.”
“Going solar will not only help clean up our environment, it will create job
opportunities and help grow this sector of our local economy,” commented by Mr.
Wu Bin, Executive Vice Chairman of CMZD, “We think the Solar City project is of
great importance to the development of CMZD. We will try our best to provide at
large the necessary support to the project as well as help us become a national
high-tech industrial park.”
A milestone has been built for this co-operation. The three parties are fully
loaded, aimed the green economy in CMZD and going to be dominate inside CMZD.
