Document:

Sales Contract

 Exhibit 10.23 
 English Translation 
 LONG-TERM SALES CONTRACT 
  

			
		  	 Contract No. XS120070059

		  	Execution Place: Jiangning District, Nanjing
		  	Execution Date: March 5, 2007
		
	Seller: CEEG (Nanjing) PV-Tech Co., Ltd.	  	 Buyer: CEEG Nanjing International Trade Co.,
 Ltd.

	 Add.: 123 Focheng West Road, Jiangning
 Economic & Technical Development Zone,
 Nanjing
	  	 Add.: 3F, Xinchen International Mansion, 26
 Zhongshan
Road, Nanjing

	Postcode: 211100	  	Postcode: 225653
	Legal representative: Lu Tingxiu	  	Legal representative:
	Proxy: Chen Haiyan	  	Proxy: Lu Tinghua
	Tel: 025-52766620	  	Tel: 83275391
	Fax: 025-52766882	  	Fax: 83275373

 The Buyer and the Seller agree to conduct transactions according to the terms and conditions stipulated below
through friendly consultation: 
 1. Goods Description 
  

													
	 Name
	  	Specifications	  	Quantity	  	Unit	  	Wattage	  	Unit Price	  	Amount
(incl. tax)
	Mono-crystalline silicon cell 125*125	  	15% quality goods	  	60	  	Piece	  	241.86	  	RMB 28/W	  	RMB 6016.08
	Total Amount (in word): Six thousand sixteen point zero eight	  		  	
	Remark: The price includes 17% value added tax.	  		  		  		  	

 2. Term and Time of Payment 
 The Buyer shall remit the 100% payment to the bank account as designated by the Seller within one week after the effectiveness of the Contract. (The Seller does not accept other settlement meanings) 
 Merchant Bank, Jiangning Sub-Branch: 078002380175610001 
 3. Packing
Requirement 
 The cells shall be packed in cartons that are suitable for highway transportation to satisfy the requirements for long distance
transportation for a long time. 
 4. Place and Term of Delivery 
 4.1 Place of Delivery: the Seller’s warehouse. 
 4.2 Should the Buyer ask the Seller to make delivery on its behalf, the Buyer shall
remit the freight and premium of insurance to the bank account designated by the Seller. The risk of transportation shall be covered by the Buyer. 
 4.3 The
Seller shall deliver the goods within 7 days upon receipt of 100% of the price value paid by the Buyer. 
 4.4 The Seller shall provide to the Buyer VAT
invoice within 15 days after receipt of each installment of payment. 
 5. Quality Requirement and Technology Standard: refer to the Appendix 1.

 6. Inspections and Claims 
 The Buyer shall inspect
the goods within 7 days after delivery in accordance with the criteria specified herein. Any quality claims shall be issued by Buyer in writing in 3 days upon detection, and shall be inspected by a third party agreed upon by both parties. If the
Buyer fails to raise a claim within 10 days after delivery, the Seller’s products shall be deemed as qualified. 

 7. Transfer of Contract 
 Neither party may, unless upon written consent of the other party, transfer all or part of rights or obligations to the third party. 
 8.
Confidentiality 
 The Parties hereto and their employees, agents, representatives and counsel shall treat the terms and conditions under this Contract
and any its supplementary agreements as business secrets and shall not disclose the information to any third party unless upon consent of the other party. Otherwise, the defaulting party shall compensate as much as twice of the direct or indirect
losses of the other party. 
 9. Force Majeure 
 If any
party is unable to perform its contractual liabilities due to any force majeure event, the affected party shall notify the other party within 7 days upon the occurrence of such event, and shall present written evidence issued by the relevant
authority within 15 days upon the end of such events and could partially or wholly exempt from the liability in the light of the impact caused by force majeure. Where an event of force majeure occurs after the party’s delay in performance, the
defaulting party shall not be released from its liabilities. 
 10. Integrity Assurance 
 It shall be viewed as damage to other party’s interest if either party and its staff directly or indirectly give, in the name of the company or an individual, a gift of money, valuables, securities or provide an
improper interest in otherwise forms to any employee of the receiving party, or either of the Buyer and Seller as well as its staff does, whether in the name of the company or an individual, any transaction similar to that contemplated hereunder
with any employee of the other party or any third party introduced by any employee of the other party. The breaching party shall compensate as much as twice of the direct or indirect losses incurred by the other party by such reason, as well as the
liquidated damages amounting to 20% of the total amount of this Contract per breach (up to RMB 1,000,000). 
 Any one may reach the Buyer’s counsel,
Mr. Xu Changming at 13851647666, or lawyerxucm@hotmail.com for such issue. 
 11. Settlement of Disputes 
 All disputes arising from the validity, performance and interpretation of this Contract shall be settled through consultation by both parties. In case no settlement can
be reached through consultation, the parties agree that the dispute shall be submitted to the People’s Court of jurisdiction in the place of Seller. The relevant expenses (including legal cost, travel expenses, notary fees, cost of adducing
evidence, arbitration fees and so on) shall be borne by the losing party. 
 12. Effectiveness and Miscellaneous 
 12.1 This Contract shall come into effect upon signatures and seals by both parties. If the Contract has more than one page, then each page should be sealed on the
perforation. 
 12.2 This Contract shall be executed in four counterparts with same legal effect, with each of the parties hereto holding two; each party
shall send the original copy to the other party within 3 working days upon execution. The copy delivered through telefax shall be as valid as the original. 
  

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 12.3 Any matters not covered in this Contract shall be mutually negotiated by both parties and be set forth in the
supplementary agreements, which have the same legal effect as this Contract. 
 12.4 Should any discrepancy between this Contract and the Appendix 1
(standards details), this Contract shall prevail. 
  

							
	 The Seller: CEEG (Nanjing) PV-Tech Co.,
 Ltd.(Seal)
	 	 The Buyer: CEEG Nanjing International
 Trade
Co., Ltd. (Seal)

			
	 Entrusted Representative:
	 	Entrusted Representative:	 	 /s/

	 Execution Date:
	 	Execution Date:	 	

  

 3Purchase Contract between Jiangsu Zhongneng and Nanjing PV

 Exhibit 10.24 
 English translation 
 PURCHASE CONTRACT 
  

			
		  	Contract No. CG120070081
		  	Execution Place: Jiangning District, Nanjing
		  	Execution Date: March 1, 2007
		
	 Seller: Jiangsu Zhong Neng PV-Tech
 Development Co.,
Ltd.
	  	Buyer: CEEG (Nanjing) PV-Tech Co., Ltd.
	 Add.: North National Highway 310, Xuzhou
 Economic
Development Zone
	  	 Add.: 123 Focheng West Road, Jiangning
 Economic &
Technical Development Zone,
 Nanjing

	Legal representative: Sha Hongqiu	  	Legal representative: Lu Tingxiu
	Tel: 0516-81352895	  	Tel: 025-52766693
	Fax: 0516-81352895	  	Fax: 025-52766882

 Based on the purpose of win-win and long term cooperation, through friendly consultation, the Buyer and the Seller
enter into and abide by this agreement on the following stipulations according to the Contract Law of the People’s Republic of China: 
 1. Term of
Cooperation, Product Name, Specifications, Quantity and Amount: 
 1.1 The Parties agree to establish a long-term buying and selling relationship
according to this Contract. Within a decade after the execution of this Contract (April 2007 – March 2016), the Buyer will purchase the product hereunder from the Seller in accordance with this Contract and make the payment according to the
price and term agreed herein. Neither Party may terminate this purchase contract in advance without the written consent of both Parties, or it shall take the responsibility of breach of contract in accordance with the provisions herein. 

1.2 Name of the product: 6N multi-crystalline silicon material (free from wash, vacuum packing) 
 Product quantity and amount: See below 
  

							
	 Time
	  	 Quantity
	  	 Price (RMB)
	  	 Notes

	 April to December 2007
	  	The Buyer shall purchase from the Seller multi-crystalline silicon of not less than 30% of the Seller’s total output of the year, approximately 200 ton	  	1,760 yuan/kg (including 17% value added tax). This is the temporary price from April to December 2007	  	 The Parties shall
 negotiate and
 determine, one
 month in advance,
 the detailed
 quantity, time
 limit and purchase
 price of every
 month according
 to the quantity and
 price of the year
 negotiated and
 determined by the
 Parties.

	 January to December 2008
	  	The Buyer shall purchase from the Seller multi-crystalline silicon of not less than 30% of the Seller’s total output of the year, approximately 700 ton	  	Both Parties shall negotiate and determine the purchase price, quantity and term of payment of 2008 before November 30, 2007; negotiate and determine the purchase price, quantity and
term of payment of 2009 before November 30, 2008; and so on for the following years.	  
	 January to December 2009
	  	The Buyer shall purchase from the Seller multi-crystalline silicon of not less than 30% of the Seller’s total output of the year, approximately 1,200 ton	  	  
	During every year after 2009, the Buyer shall purchase from the Seller multi-crystalline silicon of not less than 30% of the Seller’s total output of the year.	  	  	

 Within every year, the purchase order made by the Buyer to the Seller shall not less than 30% of the total output
of the year. As for the purchase order made by the Buyer, the Seller shall do its best to provide to the Buyer according to its actual productivity. The actual supply quantity of each year shall be determined in accordance with the actual supply
capability of the Seller. 

 2. Quality Standards: 
 6N multi-crystalline silicon material (free from wash, vacuum packing). Please refer to Annex I for details. 
 3. Term of Price: 

3.1 The temporary price from April to December 2007 is 1,760 yuan/kg (including 17% value added tax). 
 3.2 Payment term 
 3.2.1 After this Contract comes into effect, the Buyer shall negotiate with the Seller about the supply
quantity of multi-crystalline silicon in 2007 and the supply price of August 2007. The Buyer shall pay to the Seller, within 30 days after this Contract comes into effect, 20% of the average monthly payment of 2007 as advance payment of the monthly
supply of the year (advance payment = the supply quantity of multi-crystalline silicon in 2007 negotiated and determined by the Parties ÷ 5 × the supply price of August 2007 negotiated and determined by the Parties × 20%), which
will only replace some of the payment at the last supply of the year. 
 3.2.2 As for the following years, the Buyer shall pay to the Seller, within seven
days after the supply quantity of multi-crystalline of the year and the supply price of the first month are determined by the Parties, 20% of the average monthly payment of the year as advance payment of the monthly supply of the year (advance
payment = the supply quantity of multi-crystalline silicon of the year negotiated and determined by the Parties ÷ 12 × the supply price of the first month of the year negotiated and determined by the Parties × 20%), which will
only replace some of the payment at the last supply of the year. 
 3.2.3 As for the monthly payment within the cooperation period, after the Parties
determine the supply price, quantity and detailed date of delivery of every month, the Buyer shall make all the payment to the account designated by the Seller one month in advance before the date of delivery. (As for the last month of the year, the
advance payment will replace some of the payment as mentioned in Section 3.2.1 and Section 3.2.2.) 
 3.3 As to the supply price, quantity, term of
payment and etc. of 2008, 2009 and the following years, the Parties shall negotiate and determine before November 30 of each previous year respectively. 
 4. Packing, Transit and Insurance: 
 4.1 The packaging shall meet the requirement of multi-crystalline silicon material transportation.

 4.2 The Buyer shall be responsible for transit and shall cover the freight and insurance premium. 
 5. Term of Delivery (Collecting Goods): 
 The Buyer shall designate a
person to pick up the goods with payment voucher at the Seller’s factory. The Buyer shall appropriately inform the Seller of the detailed picking up date and amount before picking up the goods. 
 6. Inspection and Claims 
 If there is any quality problem, the Buyer
shall complete quality inspection according to the agreed standards and claim within two months after picking up the goods. As to the claim made by the Buyer, the Parties shall select the samples together and send them to an organization recognized
by both Parties for inspection or inspect with a method recognized by both Parties according to the quality standard determined herein. After the inspection is completed, the Parties shall negotiate within seven days and reach a resolution.

 7. Reasonable Consumption Standard and Calculation: 
 The quantity of the goods measured at Seller’s location shall prevail. If the Buyer raises any objection, the Parties shall reach a resolution through negotiation. 
  

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 8. Liabilities of Breach 
 8.1 Within the quality inspection period, if the type, specifications and technology parameters of the products delivered by the Seller do not conform to that is agreed herein, the Buyer shall be entitled to payment refund, replacing of
quality goods or price reduction according to the inspection result and negotiation result. 
 8.2 After the Parties determine the delivery date, if the
Seller delays the delivery, the Seller shall pay to the Buyer a default penalty of 0.05% of the total value of the delayed goods per day. 
 8.3 Under any
condition, the scope of responsibility of one Party to the other Party will not exceed 20% of the payment under dispute. 
 8.4 According to the detailed
delivery date determined by both Parties, if the Buyer fails to pick up the goods in time, it shall pay to the Seller a custody fee at the price of 10% of such payment. 
 8.5 As for any payment that shall be paid by the Buyer to the Seller according to this Contract, if the Buyer fails to make the payment in time, the Buyer shall pay to the Seller a default interest of 0.05% of the
late payment per day. 
 8.6 If any Party terminate this Contract without the consent of the other Party, for each year of such termination in advance, the
breaching party shall pay to the other party RMB 1 million as the termination compensation. 
 9. Transfer of Contract 
 Neither party may, without written consent of the other party, transfer all or part of rights or obligations to the third party. 
 10. Confidentiality 
 The parties hereto and their employees, agents,
representatives and counsel shall treat the terms and conditions under this Contract and any its supplementary agreements as business secrets and shall not disclose the information to any third party unless upon consent of the other party.
Otherwise, the defaulting party shall compensate as much as twice of the direct or indirect losses of the other party. 
 11. Force Majeure

 If any party is unable to perform its contractual liabilities due to any force majeure event, the affected party shall notify the other party within 7
days upon the occurrence of such event, and shall present written evidence issued by the relevant authority within 15 days upon the end of such events and could partially or wholly exempt from the liability in the light of the impact caused by force
majeure. Where an event of force majeure occurs after the party’s delay in performance, the defaulting party shall not be exempted from its liabilities. 
 12. Integrity Assurance 
 12.1 It shall be viewed as damage to other party’s interest if either party and its staff directly or
indirectly give, in the name of the company or an individual, a gift of money, valuables, securities or provide an improper interest in otherwise forms to any employee of the receiving party. The breaching party shall compensate as much as twice of
the direct or indirect losses incurred by the other party by such reason (up to RMB 1,000,000). 
  

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 13. Prohibition of Commercial Fraud 
 If either party breaches the principle of honesty by providing false registration materials, false certificates of qualification or false information, or by hiding the truth from and to deceiving the other party, it
shall be liable for the liquidated damages (up to RMB 1,000,000). This Article shall not preclude the liabilities of breach undertaken by the breaching party according to other provisions hereunder. 
 14. Settlement of Disputes 
 All disputes arising from the validity,
performance and interpretation of this Contract shall be settled through consultation by both parties. In case no settlement can be reached through consultation, both Parties agree that the dispute shall be submitted to China International Economic
and Trade Arbitration Commission by either party and settle the dispute through arbitration in Beijing. The award of the arbitration is final and shall be binding on both Parties. The relevant expenses (including legal cost, travel expenses, notary
fees, cost of adducing evidence, litigation fees and so on) shall be borne by the losing party. 
 15. Effectiveness and Miscellaneous 
 15.1 This Contract shall come into effect upon signature and seal of the parties. The printed copy of this Contract shall take precedence to other copies. Any
modification shall not become effective until signed and sealed by both parties. If the Contract has more than one page, then each page should be sealed on the perforation. 
 15.2 This Contract shall be executed in four counterparts with same legal effect, with each of the parties hereto holding two. 
 15.3 Any matters not covered in this Contract shall be mutually negotiated by both parties and be set forth in the supplementary agreements, which have the same legal effect as this Contract. 
  

			
	 The Seller: Jiangsu Zhong Neng PV-Tech
 Development Co.,
Ltd. (Seal)
	 	 The Buyer: CEEG (Nanjing) PV-Tech Co.,
 Ltd.
(Seal)

	 Entrust Agent:
	 	Entrust Agent:
		
	 Execution Date:
	 	Execution Date:

  

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