-- GCL-Poly Invests in CTDC's Expansion in the USA and China
HONG KONG - January 17, 2012 - China Technology Development Group Corporation (NASDAQ: CTDC; "CTDC" or the "Company"), a growing clean energy group that provides solar energy products and solutions, based in Hong Kong with sales offices in Milan and Frankfurt, and facilities in China announced today that a three-year cooperation framework ("the Framework") to develop solar projects in the United States and China has been signed among CTDC, CTDC's wholly-owned subsidiary Sinofield Group Ltd. ("Sinofield"), GCL-Poly Energy Holdings Limited ("GCL-Poly")'s subsidiary GCL-Poly Investment Limited ("GCL-Poly Investment"), and China Merchants Group's subsidiary China Merchants New Energy Group Limited ("CMNE").  Present at the ceremonial signing session were, among others, Yuning Fu, Chairman of China Merchants Group ("CMG"), Gongshan Zhu, Chairman of the Boards and CEO of GCL-Poly, and Alan Li, Chairman of the boards and CEO of CTDC/Director of Sinofield.
As the world's leading producer of polysilicon, GCL-Poly has interests in over 21 power plants, including a wind power plant, a 20 MW solar farm in China, and several solar farms operating in the USA.  In addition, its two solar parks in the total of 84 MW are currently under construction in the USA.    
With a 140 year history, CMG is a forerunner in China's national industry and commerce. At the end of 2010, CMG's total assets were about US$50 billion; CMG's net profit was about US$1.9 billion, ranked the ninth among China's state-owned enterprises. Through its subsidiaries, CMG boasts having largest existing, in-progress and proposed warehouse rooftop area available in China, with more than three million square meters to develop solar infrastructure.  Zhenwei Lu, Executive President of CMNE, said, "We aim to bring a steady supply of solar electricity to our logistics and industrial zone operations, as an innovative solution to upgrade our traditional structure and lead in low carbon development in China."
Pursuant to the Framework, GCL-Poly and CTDC will jointly develop and invest in solar parks in the USA. In addition, GCL-Poly is to assist CTDC in investing solar parks that are in operation or being installed in the USA. 
As a part of the Framework, Sinofield will be the only platform for CMNE to invest into China's rooftop solar development, with name change to "China Merchants New Energy Holdings Company Limited" after Sionfield's completion of capital increase.  GCL-Poly will contribute to 20% of Sinofield's increased share capital with HK$48 million (equivalent to US$7.5 million).  Simultaneously, CMNE will inject into Sinofield with exclusive rooftop solar development rights of at least 180 MW, amounting to 55% of Sinofield's increased capital. The exclusive solar development rights in place are mainly comprised of CMNE's 25 years of exclusive development rights to the warehouse rooftops of three enterprises of CMG:
The completion of Sinofield's capital increase is subject to mutually-agreed independent international asset appraisal firm's assessment, resolutions of the boards, as well as relevant official authorities. 
Adding to the proposed terms of transaction, the agreement outlines Sinofield's plans under the joint efforts to achieve in the next five years at least 500 MW rooftop solar development in China alone, including phases of development, construction, and operation. CTDC and CMNE will be responsible for raising funds for all the rooftop projects to ensue. Meanwhile, GCL-Poly will provide EPC
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