Lightway Solar America Executes 16.6 MW Supply Agreement with Premier Power

ISELIN, N.J., Nov. 14, 2012 /PRNewswire/ -- Lightway Solar America, Inc., the U.S. subsidiary of Lightway Green New Energy Co., Ltd., has announced the execution of a 16.6 megawatt Supply Agreement with Premier Power Renewable Energy, Inc. Lightway is scheduled to begin delivery of solar panels from Q4 2012 throughout 2013 for projects developed by Premier Power in both the U.S. and European markets.

Lightway Solar America has made tremendous strides by proving to be one of the more aggressive solar panel manufacturers with a willingness to move further downstream into project financing and engineering solutions. In just the last three weeks, Lightway Solar has already announced three separate supply agreements ranging from 12 MW to 22 MW each. Premier Power is a project developer that also specializes in EPC (Engineering, Procurement and Construction), distribution and installation with a proven track record in the three main solar segments of utility, commercial, and agricultural markets.  

William Sien, Sr. Director at Lightway Solar America, said: "A critical aspect of creating a sustainable growth model for Lightway Solar is the development of strategic relationships with multi-dimensional players that do not have an over-dependence on any one particular market or rely on one particular area of expertise. We are pleased to partner with Premier Power given their success in building brand name globally through their ability to not only develop, but also finance, engineer and construct projects."

Wei Na, Global Sales and Marketing VP of Lightway Green New Energy, said: "We are pleased with the speed that Lightway Solar America has gained market share in the U.S. through our focus on bankability and financial solutions. In Premier Power, we have a partner that will extend our EPC and project development relationships globally."

Francesco Marangon, CEO of Premier Power Renewable Energy, Inc. said: "As a fully integrated project developer and builder that accepts full responsibility of the engineering, procurement and construction of a project in the United States and Europe, we understand that our investors view quality and bankability of the solar panels as key components. We are pleased to have secured Lightway Solar America as our primary solar panel supplier to ensure the productivity of our long term investments."

About Premier Power Renewable Energy, Inc.:

Premier Power Renewable Energy, Inc. is a leading global provider of large and medium-scale solar power systems, delivering unmatched experience to commercial, governmental and utility customers globally. Premier Power was acquired by Gascom in July 2012. Gascom is among the top 10 private utilities in Italy servicing over 100,000 customers and is active in the renewable with a portfolio of wind, solar, hydro and biomass projects. Premier Power designs, engineers and integrates the solar industry's leading products. Premier Power's technologies and services have enabled its customers to maximize clean energy output along with project savings. Today, Premier Power designs and deploys the most innovative solar electric systems through market-leading innovation and exceptional customer service. Premier Power is headquartered in El Dorado Hills, Calif.

For more information, visit www.premierpower.com .

About Lightway Green New Energy Co., Ltd.:

Lightway Green New Energy is world class, vertically integrated solar panel manufacturer with 660 MW of balanced, production capacity that incorporates ingot, wafer, cell and module manufacturing. The manufacturing plant is located in a futuristic Science & Technology Park based in Gaobeidian, China that spans 2.3M square feet and is the home to over 5,000 employees. With a strong financial portfolio and the support of their strategic partnerships, Lightway will continue to expand and plans to reach 1500 MW in 2014. One of the strategic markets for Lightway is the development of the U.S. region through their subsidiary, Lightway Solar America with a sales office in New Jersey and warehouses on the east and west coast.

For more information, visit www.lightwaysolaramerica.com - or call 732-602-1930.

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SOURCE Lightway Solar America, Inc.