Document:

English Translation of Guarantee Contract

 Exhibit 4.59 
 English Translation 
 Guarantee Contract 
 Agricultural Bank of China 
  

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 Guarantee Contract 
 No. 32901200700008764 
  

			
	Creditor (Full Name):	  	Agricultural Bank of China, Nanjing Yuhuatai Sub-branch

			
	Guarantor (Full Name):	  	(1) China Electric Equipment Group Co., Ltd.
		  	(2)
	(3)	  	

 WHEREAS, in order to ensure the proper and truthful execution of the Loan Contract (No.
32101200700015673 ) (hereinafter referred to as “the Main Contract”) entered into by and between CEEG (Nanjing) PV-Tech Co., Ltd. (hereinafter referred to as “the Debtor”) and the Creditor, the Guarantor agrees to
provide the Debtor with the security of guarantee for the indebtedness formed under the Main Contract. Pursuant to the relevant laws and regulations of People’s Republic of China, the parties concerned have entered into this Contract after an
agreement through consultation. 
 Article I Creditor’s Right to be Secured; Amount of Principal 
 The Creditor’s right to be secured is a Short-term Working Capital Loan, with its principal amount being (currency and amount in words) RMB Fifty
Million. 
 Article II Scope of Guarantee 
 The guarantee shall cover all the expenses for the enforcement of the Creditor’s right, which include the principal, interest, penalty interest, compound interest, default penalty, damages, litigation cost and attorney’s fee
related to the indebtedness under the Main Contract. 
 Article III Form of Guarantee 
 The guarantee under this Contract is a guarantee with joint and several liability. If more than one guarantor are involved in the guarantee under this
Contract, the joint and several liability shall be jointly shared by the guarantors concerned. 
 Article IV Term of Guarantee 
  

	 	1.	The term of guarantee shall be two years beginning from the maturity date of Debtor’s repayment obligation under the Main Contract. 

  

	 	2.	For the bill acceptance, deduction and exemption guarantee, the term of guarantee shall be two years beginning from the date of advance by the Creditor. 

  

	 	3.	For acceptance of commercial discount draft, the term of guarantee shall be two years beginning from the expiry date of the commercial draft. 

  

	 	4.	If the Creditor and the Debtor have reached an agreement on the extension of the term of performance of the indebtedness under the Main Contract, the Guarantor shall continue to
undertake the guarantee obligation. The term of guarantee shall be two years beginning from the termination of the extended term of performance of the indebtedness as specified in the said agreement. 

  

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	 	5.	In case of a circumstance as regulated in the relevant laws or regulations or specified in the Main Contract which leads the Creditor to declare pre-maturity of the indebtedness
under the Main Contract, the term of guarantee shall be two years beginning from the date of pre-maturity of the indebtedness as demanded by the Creditor. 

 Article V Guarantor’s Undertakings 
  

	 	1.	The Guarantor has obtained the authorization as required hereunder to provide the guarantee according to relevant regulations and procedures. 

  

	 	2.	The Guarantor shall provide authentic, complete and effective financial statements, articles of association as well as other relevant materials and information with the Creditor and
accept Creditor’s supervisions and inspection over its production operation and financial condition. 

  

	 	3.	If the Debtor fails to perform the obligations as specified in the Main Contract, the Guarantor shall voluntarily undertake the unfulfilled obligations. 

  

	 	4.	If the Guarantor fails to perform his guarantee obligations as agreed in this Contract, the Creditor is entitled to deduct the corresponding amount directly from any account of the
Guarantor. 

  

	 	5.	The Guarantor shall give a written notice to the Creditor immediately if any of the following events occur: 

  

	 	(1)	A change in name, address, legal representative or means of contact. 

  

	 	(2)	A change in the subordinate relation and staffing of the senior management, amendment to the Articles of Association or an adjustment to the corporate structure.

  

	 	(3)	Deterioration of financial situation, serious difficulties in production and business, or being involved in a major litigation or arbitration. 

  

	 	(4)	Cessation of production, going out of business, cessation of production for rectification or applied for bankruptcy, restructuring; 

  

	 	(5)	Revocation or cancellation of business license, closedown or other dissolution events; 

  

	 	(6)	Any circumstance that may adversely affect the enforcement of the Creditor’s right by the Creditor. 

  

	 	6.	If the Guarantor intends to take any of the following actions, he shall apply a fifteen-day written notice in advance for a written consent from the Creditor:

  

	 	(1)	The Guarantor changes its corporate structure or management, including but not limited to contracting, leasing, reform of stockholding system, joint operation, merger, acquisition,
divestiture, joint venture, asset transfer, application for suspension of business for regulatory measures, application for dissolution and application for bankruptcy. 

  

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	 	(2)	The Guarantor provides guarantee for the indebtedness of a third party or utilizes his major asset as a mortgage or pledge guarantee for his own or a third party’s debt, which
may affect his performance of obligations under this Contract. 

 Article VI Undertaking of guarantee liability 
 1. Under any of the following situations, the Creditor shall be entitled to require the Guarantor to undertake the guarantee liability. In case that the
repayment made by the Guarantor is not sufficient to pay up the creditor’s rights guaranteed hereunder, the Creditor shall be entitled to have the principal, interest, penalty interest, compound interest or expenses repaid by such repayment at
its sole discretion. 
 (1) The Debtor fails to repay the loan upon expiration under the Main Contract. “Expiration” refers to the
expiration of the loan as specified in Main Contract and earlier expiration upon the rules and regulations or stipulations as specified in the Main Contract for early termination; 
 (2) The Debtor, the Guarantor’s bankruptcy application have been accepted by the people’s court or reconciliation; 
 (3) Revocation or cancellation of business license, closedown or other dissolution events occur to the Guarantor; 
 (4) The Debtor, Guarantor’s death or declaration of disappearance or death. 
 (5) The Guarantor break the obligations hereunder; 
 (6) Any circumstance that may materially adversely affect the enforcement of the Creditor’s right . 
 2. If the Debtor provides both
collateral and guarantee to secure his indebtedness, the Creditor is entitled to ask the Guarantor to undertake his guarantee obligations over all the indebtedness undertaken as before the collateral comes into effect. 
 3. If the Debtor provides collateral and the Creditor waives such right or in case of change of security right, the Guarantor agrees to undertake his guarantee
obligations over all the indebtedness undertaken as before the collateral comes into effect. Such security right refers to the collateral provides by the Debtor as guarantee in connection with the creditor’s rights under the Main Contract.

 Article VII Liability of Breach 
 1. After effectiveness of
the Contract, the Creditor shall compensate for the losses incurred to the Guarantor in case that the Creditor fails to perform the agreed obligations; 
 2.
The Guarantor shall pay a default penalty to the Creditor in amount of 30% of the principal creditor’s rights hereunder, and compensate for the losses incurred, if any, in full, in if any of the following events occur: 
 (1) The Guarantor fails to get the valid authorization required hereunder; 
  

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 (2) The Guarantor fails to provide the true, complete and valid financial statements, articles of
association or other related material and information; 
 (3) The Guarantor fails to inform the Creditor in time in case that the events
under Article V occur; 
 (4) The Guarantor take the actions under Articles VI without Creditor’s prior consent; 
 (5) Any circumstance that may materially adversely affect the enforcement of the Creditor’s right or breach of contract. 
 Article VIII Dispute Resolution 
 Any dispute arising from
the performance of this Contract shall be resolved in accordance with the first of the following options: 
  

	 	1.	Legal action at the court of jurisdiction over the area where the Creditor is located; or 

  

	 	2.	Application for arbitration with
                    /                  
   Arbitration Commission in accordance with their arbitration rules effective at the date of application. 

 During the course of dispute, the parties concerned shall continue to perform the terms of this Contract that are not involved in the dispute. 
 Article IX Miscellaneous 
  

	 	1.	The Guarantor has received and read the Main Contract. 

                                       
                  /                     
                                        

Article X Effectiveness 
 This Contract shall come into
effect upon the date this Contract is signed or sealed by the two parties involved. 
 Article XI This Contract is executed in four counterparts, one
for each Party to this Contract, the Borrower and accounting counter. All the counterparts shall have the same legal effect. 
 Article XII Special Notice

 The Creditor has furnished the Guarantor with a complete and accurate understanding of all the printed provisions of this Contract and has
made, upon the request of the Guarantor, corresponding explanations over the relevant provisions under this Contract. Both parties to this Contract have reached an agreed understanding of the meanings and implications of this Contract. 

 

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	Creditor (Signature or Seal):	 		 	Guarantor (Signature or Seal):
			
	 Agricultural Bank of China, Nanjing Yuhuatai
 Sub-branch (Seal)
	 		 	Wuxi Guofei Green Energy Co., Ltd (Seal)
			
	Responsible Person:	 		 	Legal Representative:
	Or Authorized Representative:	 	 /s/
	 		 	Or Authorized Representative:	 	 /s/

				
	Guarantor (Signature or Seal):	 	 /s/ Tingxiu Lu
	 		 	Guarantor (Signature or Seal)
			
	Legal Representative:	 		 	Legal Representative:
	Or Authorized Representative:	 		 	Or Authorized Representative:

  

	
	Date Signed: December 27, 2007
	Location Signed: 50 Hanzhongmen Street, Nanjing

  

 6English Translation of Guarantee Contract

 Exhibit 4.60 
 English Translation 
 Contract No.: Jiang Ning Nong Xin Bao Zi [2008-01-034-1] 
 GUARANTEE CONTRACT 
 DEBTOR: CEEG
(NANJING) PV-TECH CO., LTD. 
 GUARANTOR: CHINA ELECTRICAL EQUIPMENT GROUP CO., LTD. 
 CREDITOR: NANJING JIANGNING DISTRICT RURAL CREDIT COOPERATIVE, 
 JINBO COOPERATIVE 
 NANJING JIANGNING DISTRICT RURAL CREDIT COOPERATIVE 
 JANUARY 24, 2008 
  

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 GUARANTEE CONTRACT 
 Jiang Ning Nong Xin Bao Zi [2008-01-034-1] 
 Debtor (Full Name): CEEG (Nanjing) PV-Tech Co., Ltd. 
 Creditor (Full Name): Nanjing Jiangning District Rural Credit Cooperative, Jinbo Cooperative 
 Guarantor (Full Name): China Electrical Equipment Group Co., Ltd. 
 In order to secure the full performance of the
Loan Contract (No. 2008-01-034, hereinafter referred to as “Main Contract”) signed by the CEEG (Nanjing) PV-Tech Co., Ltd. (hereinafter referred to as “Debtor”) and Nanjing Jiangning District
Rural Credit Cooperative, Jinbo Cooperative (hereinafter referred to as “Creditor”), China Electrical Equipment Group Co., Ltd. (hereinafter referred to as “Guarantor”) has received, read and understood the Main
Contract, and hereby agrees to provide the suretyship for the debt between the Debtor and the Creditor under the Main Contract. This Contract is entered into by and among all parties in accordance with the Contract Law, Guaranty Law of the
People’s Republic of China and other relevant laws and regulations, through the negotiation among all parties, with the terms and conditions as follows: 
 ARTICLE 1 CATEGORY AND AMOUNT OF THE PRINCIPAL CREDITOR’S RIGHT SECURED 
 The principal creditor’s right to be secured hereunder is
a short-term loan, and the amount of principal (currency and in word) is RMB Fifteen Million Yuan Only. 
 ARTICLE 2 SCOPE OF GUARANTEE 

 The scope of guarantee hereunder includes the principal of the debt under the Main Contract, interest, overdue interest, penalty interest, compound
interests, service charges, liquidated damages, damages and costs of enforcing the creditor’s rights, including but not limited to legal costs, costs of enforcement, costs for preservation, costs of identification, attorney fees and traveling
costs, as well as other costs and expenses incurred from enforcement of the creditor’s rights. 
  

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 ARTICLE 3 FORM OF GUARANTEE 
 The guarantee under this Contract is a guarantee with joint and several liability. If more than one guarantor are involved in the guarantee under this Contract, the joint and several liability shall be jointly shared by the guarantors
concerned. 
 ARTICLE 4 TERM OF GUARANTEE 
 4.1. The term
of guarantee shall be two years beginning from the maturity date of Debtor’s repayment obligation under the Main Contract. 
 4.2. For the bill
acceptance, deduction and exemption guarantee, the term of guarantee shall be two years beginning from the date of advance by the Creditor. 
 4.3. For
acceptance of commercial discount draft, the term of guarantee shall be two years beginning from the expiry date of the commercial draft. 
 4.4. If the
Creditor and the Debtor have reached an agreement on the extension of the term of performance of the indebtedness under the Main Contract, the Guarantor shall continue to undertake the guarantee obligation. The term of guarantee shall be two years
beginning from the termination of the extended term of performance of the indebtedness as specified in the said agreement. 
 4.5. In case of a circumstance
as regulated in the relevant laws or regulations or specified in the Main Contract which leads the Creditor to declare pre-maturity of the indebtedness under the Main Contract, the term of guarantee shall be two years beginning from the date of
pre-maturity of the indebtedness as demanded by the Creditor. 
 ARTICLE 5 UNDERTAKINGS OF THE GUARANTOR 
 5.1 The Guarantor will provide true, complete and valid financial statements and other relevant materials and information, and agree that the Creditor may inspect and
supervise over its production, business operation and financial activities. 
 5.2 The Guarantor will provide the Creditor with the information regarding the
any other debt assumed by the Guarantor and/or the particulars regarding such debt. 
 5.3 When providing the guarantee hereunder, the Guarantor is not
subject to any action or arbitration proceeding. 
 5.4 The Guarantor shall supervise the Debtor to the Main Contract to use the loan for the purpose as
specified in Main Contract, and repay the principal and interest in accordance with the Main Contract. The validity of this Contract will not be affected by the fact that the Debtor fails to use the loan for the purpose as specified in Main
Contract. 
  

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 5.5 Should the Guarantor fail to perform its guarantee obligation according to this Contract, the Creditor is entitled to
directly deduct the relevant amount from any account of the Guarantor. 
 5.6 Upon occurrence of any of the following events, the Guarantor shall send a
written notice to the Creditor within fifteen days: 
 5.6.1 A change in the subordinate relation and staffing of the senior management, amendment to the
Articles of Association or an adjustment to the corporate structure. 
  

	5.6.2	Cessation of production, going out of business, cancellation of registration or revocation of business license. 

 5.6.3 Deterioration of financial situation, serious difficulties in production and business, or being involved in a major litigation or arbitration. 
 5.6.4 A change in name, address, legal representative or means of contact. 
  

	5.6.5	Any circumstance that may adversely affect the enforcement of the Creditor’s right by the Creditor. 

 5.7. If the Guarantor intends to take any of the following actions, he shall apply a fifteen-day written notice in advance for a written consent from the Creditor: 
 5.7.1 The Guarantor changes its corporate structure or management, including but not limited to contracting, leasing, reform of stockholding system, joint operation,
merger, acquisition, divestiture, joint venture, asset transfer, application for suspension of business for regulatory measures, application for dissolution and application for bankruptcy. 
 5.7.2 The Guarantor provides guarantee for the indebtedness of a third party or utilizes his major asset as a mortgage or pledge guarantee for his own or a third
party’s debt. 
 5.8 If the Debtor provides collateral as a guarantee to secure his indebtedness, the Guarantor shall continue to undertake his
guarantee obligations over all the indebtedness undertaken as before the collateral comes into effect. 
 5.9 If the Creditor transfers the principal
creditor’s rights to any third party according to the law during the guarantee term, the Guarantor shall continue to be bound by the guarantee obligations within the guarantee scope and term as specified herein. 
 ARTICLE 6 EFFECT OF THE GUARANTEE CONTRACT 
 This Contract is
independent from the Main Contract, and invalidity of the Main Contract will not affect the validity of this Contract. In that case, the Guarantor shall still perform its obligations and assume the joint and several liabilities hereunder within the
scope of guarantee as specified in Article 2 hereof. 
  

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 The guarantee of joint and several liabilities hereunder is irrevocable, and the effectiveness and validity of this
Contract will not be affected by execution of any legal document or any other contract by the Guarantor and any other third party lender. During the term of guarantee, the Guarantor may not terminate this Contract by whatever reason. 
 ARTICLE 7 LIABILITIES FOR BREACH OF CONTRACT 
 7.1 Upon effectiveness
of this Contract, the Creditor and the Guarantor shall perform their own obligations hereunder. If either party hereto fails to perform its obligations hereunder, it shall assume the liabilities for breach of contract accordingly and indemnify the
other party against all losses and damages resulting therefrom. 
 7.2 Should the Guarantor violate any provision hereof and refuses to perform its
obligation of guarantee hereunder, the Lender may report it to the relevant authority and make an announcement on the public announcement. 
 ARTICLE 8
DISPUTE SETTLEMENT 
 Any dispute arising from or in connection with performance of this Contract
shall be settled by both parties through friendly negotiations, or through the 1st option listed below:

 8.1 Action: to file an action before the people’s court where the Creditor located; 
 8.2 Arbitration: to submit the dispute to
                                        
for arbitration (full name of the arbitration institution) according to the arbitration rules of the said arbitration institution) 
 During the course of
dispute, the parties concerned shall continue to perform the terms of this Contract that are not involved in the dispute. 
 ARTICLE 9 MISCELLANEOUS 

  

			
	  

		
	  
	 	.

 ARTICLE 10 EFFECTIVENESS 
 This Contract shall come into effect upon the date this Contract is signed or sealed by the parties hereto. 
 Invalidity of
the Main Contract will not affect the validity of this Contract, and the Guarantor shall still perform its obligations and assume the liabilities hereunder within the scope of guarantee as specified in Article 2 hereof. 
  

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 ARTICLE 11 All notices sent by the Creditor to the Guarantor in connection with this Main Contract shall be
delivered to the mailing address as indicated in this Contract. Should the Guarantor change its mailing address, it shall timely send a written notice to the Creditor; otherwise, the notice sent by the Creditor to the address before such change
shall be deemed as duly delivered after a reasonable period. 
 ARTICLE 12 This Contract shall be executed in three original copies, one for each
party hereto with the same legal effect. 
 ARTICLE 13 SPECIAL STATEMENT 
 The Creditor has furnished the Guarantor with a complete and accurate understanding of all the printed provisions of this Contract and has made, upon the request of the Guarantor, corresponding explanations over the
relevant provisions under this Contract. Both parties to this Contract have reached an agreed understanding of the meanings and implications of this Contract. 
 Creditor: Nanjing Jiangning District Rural Credit Cooperative, Jinbo Cooperative (Seal) 
  

			
	Principal:	 	 /s/

			
		
	or Responsible Person:	 	 /s/

 Guarantor: China Electrical Equipment Group Co., Ltd. (Corporate Seal) 
 Legal Representative (Principal): Lu Tingxiu (Seal) 
 or Authorized
Representative: 
 ID No.: 
 Mailing Address: 
 Tel: 
 Date:
                     
 Signed at: Nanjing
Jiangning District Rural Credit Cooperative, Jinbo Cooperative 
  

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