August 18, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Solarfun Power Holdings Co., Ltd. (NASDAQ: SOLF), a Chinese manufacturer of silicon ingots, wafers and photovoltaic cells and modules, said that it has signed a PV module distribution agreement with Fujimi Fine Technology Inc., a Japan-based manufacturer of silicon wafers and distributor of semiconductor products. Under the deal, Fujimi Fine Technology will act as a non-exclusive distributor of Solarfun's products in Japan for one year.

Peter Xie, CEO of Solarfun, said, “With the new incentives and subsidies that were passed by Japan's government in November 2009, Japan is now a sizeable and growing market.”

He added that the cooperation with Fujimi Fine expands Solarfun’s business reach in Japan, which he said was historically one of the hardest markets to penetrate for Chinese companies.

Hironori Watanabe, CEO of Fujimi Fine Technology, said that the partnership with Solarfun will allow his firm to offer our customers modules with high quality and high efficiency at a discount to equivalent modules that are available from Japanese manufacturers.

The Japanese government is formulating a plan for a 10-fold increase in solar power generating capacity by 2030. As part of this plan, the government will try to halve the price of a solar power home system in the next three to five years. China-based Solarfun Power produces its monocrystalline and polycrystalline products at its own manufacturing facilities. Solarfun partners with third-party distributors, OEM manufacturers, and system integrators to sell its modules into large-scale utility, commercial and governmental, and residential/small commercial markets.

Japan-based Fujimi Fine Technology is a manufacturer silicon wafers for the semiconductor industry using recycled and reclaimed material.

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