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Tue Jan 17, 2012, 09:44 AM

ET Solar Supplies 1.5MW Solar Modules to a Grid-Parity Project in the Netherlands

http://www.prnewswire.co.uk/cgi/news/release?id=345138

ET Solar Group Corp. ("ET Solar"), one of the global leading solar one-stop solution providers, today announces its supply of 1.5MW solar modules to a residential project in the Netherlands.

Code named ZonVast, the project was co-developed by Zonnefabriek, a reputable local system integrator, and Greenchoice, a large local utility operator. Without any government subsidy support, Greenchoice will be the system owner that will receive fixed tariffs to be paid by the local households in the first twenty years of the system operation, after which these households will own and continue to use these systems for free for another ten years. ET Solar is the sole module supplier of the project and the total annual electricity production of these systems shall approximate 1.28 million kilowatt hours.

Dennis She, Chief Executive Officer of ET Solar, commented, "We are very pleased with our significant participation in one of the first sizeable residential solar projects that stands financially on its own in the Netherlands. And we are truly honored to have been collaborating with Zonnefabriek in developing green opportunities for two years in the country. We expect to see and facilitate more financially independent solar projects going forward as more regions leap towards grid-parity in Europe."

David van der Burg, partner at Zonnefabriek, added, "As the initiator of the ZonVast Project, we very much appreciate the high quality modules provided by ET Solar and the business relationship we grew in the past years. It is our strong belief that the ZonVast model will see a broad and fast replication that will benefit more households in the Netherlands."

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