China Sunergy Co., Ltd. (CSUN) Inks 7-Year Solar Cell Sales Deal

China Sunergy Co., Ltd. (CSUN), a manufacturer of monocrystalline solar cells in China, announced this morning that it has signed a seven year sales contract with Wuxi Guofei Green Energy Source Co., Ltd., a Chinese solar energy company. Under terms of the agreement, China Sunergy will supply Wuxi Guofei with 10 MW of solar cells each year from 2009 through 2015, and China Sunergy will receive an advance payment before the initial shipment.