CTDC's LSP Panels Obtain Bankability From Mediocredito Italiano
November 10 2011 - 7:00AM
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
today announced that CTDC's LSP panels have been included in the
bankability list of Mediocredito Italiano. PV projects that use LSP
panels have a good chance of getting bank loans from the bank.
Mediocredito Italiano includes LSP panels in its bankable lists,
based on considerable details, which are CTDC's organizational
structure, management team, as well as key panel's performance
features, manufacturing processes and quality control programs. As
a norm being practiced in Italy, continuous power output data
during a period of 18 months from a 5MW solar park must be
submitted to fulfill the bankability requirement. In addition, LSP
solar panel systems are covered under RSA's insurance, which also
strengthens LSP panels' bankability. RSA is one of world's ten
largest non-life insurers.
"Managing our bankability is a part of our quality management
process. This is a milestone that we have achieved to gain trust
from financial institutions and stakeholders," CTDC's Chief
Operating Officer, Sean Liaw, said. "We have built free standing PV
parks and farm house rooftop PV in Italy and Spain. We are quickly
establishing our LSP brand recognition, and we are looking forward
to sharing with our European partners and customers the quality of
our LSP products and benefits of working with us."
About Mediocredito Italiano
Mediocredito Italiano, located in Milan, is an Italian savings
bank owned by Intesa Sanpaolo Group. Its mission is to provide
optimal solutions to the needs of long-term investment for small
and medium-sized enterprises, supporting them in various stages of
growth with all types of financing and with customized
solutions.
The parent banking group Intesa Sanpaolo is among the top
banking groups in the euro zone, with a market capitalization of 21
billion euro and aims at becoming the benchmark for value creation
in the European banking system. Intesa Sanpaolo is the leader in
Italy in all business areas (retail, corporate and wealth
management). The Group offers its services to 11 million customers
through a network of over 5,500 branches well distributed
throughout the country with market shares above 15% in most Italian
regions.
About China Technology Development Group
Corporation (Nasdaq:CTDC)
CTDC is a fast growing clean energy group in China based in Hong
Kong, providing solar energy products and solutions to the global
market under the "LSP" brand. CTDC's major shareholder is China
Merchants Group, a state-owned conglomerate in China
(http://www.cmhk.com).
For more information, please visit http://www.chinactdc.com
CONTACT: Weining Zhang, Chief Communications officer
China Technology Development Group Corporation
Tel: +1 415 358 0899
Email: ir@chinactdc.com
Web: www.chinactdc.com
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