Document:

English Translation of Mortgage Contract

 Exhibit 10.17 
 English translation 
 Contract No.: 2006 Jiashan No.0059 
 Maximum-Amount Mortgage Contract 
 [Important] 
 This Contract is concluded by both parties pursuant to relevant laws and administrative regulations on basis
of equality and free will. All the provisions herein are the true expressions of the intentions of both parties. In order to fully protect the legal rights of the Mortgagor, the Mortgagee hereby specifically requests the Mortgagor to carefully and
thoroughly read the provisions of this Contract and the Main Contracts before signing this Contract and to pay special attention to the underlined parts herein and to execute and affix his seal to this Contract after fully understanding the meanings
and legal implications of the provisions of this Contract and the Main Contracts. 
 Mortgagor (Party A): /s/ 
 Domicile (Address): 
 Legal Representative: 
 Tel:             Fax:             P.C.:

 Mortgagee (Party B): Industrial and Commercial Bank of China, Jiashan Branch (Seal) 
 Domicile (Address): No.8, Jiefang East Road, Jiashan County Seat 
 Legal Representative (Responsible Person): /s/ 

Tel:             Fax:             P.C.:

 Table of Contents 
  

			
	 Article 1
	  	Representations and Warranties by Party A
		
	Article 2	  	Types and Amounts of Guaranteed Principal Creditor’s Rights
		
	Article 3	  	Deadline for the Debtor under the Main Contracts to Perform Obligations
		
	Article 4	  	Scope of Mortgage & Guarantee
		
	Article 5	  	Mortgage
		
	Article 6	  	Mortgage Registration
		
	Article 7	  	Possession & Management of the Mortgage
		
	Article 8	  	Insurance
		
	Article 9	  	Realization of Hypothecation
		
	Article 10	  	Rights and Obligations of Party A
		
	Article 11	  	Rights and Obligations of Party B
		
	Article 12	  	Liabilities for Breach of Contract
		
	Article 13	  	Effectiveness, Modification, Dissolution and Termination of Contract
		
	Article 14	  	Dispute Settlement
		
	Article 15	  	Other Issues
		
	Article 16	  	Attachments
		
	Article 17	  	Supplementary Rules

 In order to ensure performance of the obligations
of the Debtor under the Loan Contract, the Bank Acceptance Agreement and the Opening Guarantee Agreement signed by and between the Debtor, Zhe jiang Yuhui Solar Energy Co., Ltd, and Party B within the maximum creditor’s right balance of RMB ten
million and seventy thousand Yuan (incl. equivalent in any foreign currency) during the period from May 26th 2006 to November 27th 2006 as well as the following (1),(7) trade financing operations (the corresponding operation vouchers, including but not limited to applications,
agreements, contracts, letters of credit, trust receipts, etc; the above operation vouchers and the Loan Contract, the Bank Acceptance Agreement and the Opening Guarantee Agreement, etc are hereinafter referred to as the “Main Contracts”),
Party A is willing to provide Party B with mortgage guarantee (including the counter guarantee provided for the obligations of the Debtor under the Opening Guarantee Agreement – the same below). 
  

	 	(1)	Import L/C 

  

	 	(2)	Import Bill Advance 

  

	 	(3)	Shipping Guarantee 

  

	 	(4)	Forfaiting 

  

	 	(5)	Export Factoring 

  

	 	(6)	Export Bill Advance/Discounting 

  

	 	(7)	Other Trade Financing Operations 

 In order to define the
rights and obligations of both parties, Party A and Party B have entered into this Contract through negotiation pursuant to the Contract Law and the Guarantee Law of the People’s Republic of China, the relevant Main Contracts and other relevant
laws and administrative regulations. 
 Article 1 Representations and Warranties by Party A 
  

	1.1	Party A is the complete, valid and legal owner or government-authorized manager of the Mortgage hereunder; this Mortgage is free of any dispute over the ownership or management
right. 

  

	1.2	If the obligations under the Main Contracts are loans, Party A fully understands the intended uses of loans borrowed by the Borrower under the Main Contracts; if the obligations
under the Main Contracts are the obligations under the Bank Acceptance Agreement, Party A fully understands the intended use of the bank acceptance bill of the Applicant under the Main Contracts; if the obligations of the Main Contracts are the
obligations under the Opening Guarantee Agreement, Party A fully understands the use of the letter of guarantee of the Applicant under the Main Contracts; if the obligations under the Main Contracts are trade finance, Party A fully understands the
actual use of the trade finance of the Debtor under the Main Contracts. Party A acknowledges that the basic transactions on which the bank acceptance bill, the letter of guarantee and financing are based are true and free of fraud. Party A provides
the Debtor under the Main Contracts with mortgage guarantee fully at his own will and all of his declarations of intention hereunder are true. 

  

	1.3	Party A has given full and reasonable explanations of the defects of the Mortgage hereunder. 

  

	1.4	The Mortgage hereunder can be legally mortgaged. 

  

	1.5	The Mortgage hereunder is free of any limitation. 

  

	1.6	The Mortgage hereunder is not lawfully seized, detained or controlled. 

  

	1.7	If the Mortgage hereunder is already leased out in part or in whole, Party A promises to inform the lessee of this Mortgage and will in writing notify Party B of the lease.

	1.8	When the Debtor fails to perform his obligations as agreed in the Main Contracts, Party B shall have the right to directly request Party A to bear the guarantee obligations
within the scope of guarantee and Party A waives the right of defense, no matter whether or not Party B owns any other guarantees for the creditor’s rights under the Main Contracts (including but not limited to such guarantee means as warranty,
mortgage, pledge, letter of guarantee, standby letter of credit, etc). 

  

	1.9	Party A clearly understands the scope of business of Party B. 

  

	1.10	If the obligations under the Main Contracts are denominated in any foreign currency while the Mortgage is disposed or the insurance compensation is made in RMB, Party A hereby
authorizes Party B to pay off obligations by converting the obligations as per the selling foreign exchange rate published by ICBC on the date of deduction and purchasing foreign exchange (and arbitraging foreign exchange) as per relevant
governmental rules. 

 Article 2 Types and Amounts of Guaranteed Principal Creditor’s Rights 
  

	2.1	The principal creditor’s rights guaranteed hereunder are all the creditor’s rights of Party B formed under the Main Contracts within the time period and maximum
creditor’s right balance as specified herein, no matter whether or not the expiry date for performing any single Main Contract exceeds the above-mentioned time period. 

 Article 3 Deadline for the Debtor under the Main Contracts to Perform Obligations 
  

	3.1	As per the separate provisions in the Main Contracts. 

 Article 4 Scope
of Mortgage & Guarantee 
  

	4.1	The scope of mortgage guarantee hereunder includes the loan, bank acceptance, guarantee and trade finance principal, interest, penalty interest, compound interest, penalty,
compensation and exchange rate loss under the Main Contracts as well as all the expenses incurred and payable by Party B for realizing the creditor’s rights. 

 Article 5 Mortgage 
  

	5.1	For details of mortgages, please see the List of Mortgages. 

  

	5.2	The values of the mortgages agreed in the List of Mortgages shall not be used as the basis for Party B to valuate the Mortgage according to Article 9 herein or restrict Party B in
exercising hypothecation. 

  

	5.3	After being confirmed by both Party A and Party B, mortgage-related valid certificates and documents will be sealed and be given by Party A to Party B, unless otherwise specified by
laws and/or administrative regulations. 

 Article 6 Mortgage Registration 
  

	6.1	If registration is required as per any laws/administrative regulations or any agreement between both parties, both parties shall complete the mortgage registration formalities at
the local mortgage registration authority within 15 days after the execution hereof. 

  

	6.2	When any mortgage registration item is modified and the modification shall be registered as required by law, both parties shall complete the modification registration formalities at
the local mortgage registration authority within 15 days after the modification. 

 Article 7 Possession & Management of the Mortgage 
  

	7.1	The Mortgage hereunder will be possessed and managed by Party A. During the period of such possession and management, Party A shall maintain the integrity of the Mortgage and
shall not use the Mortgage in any unreasonable means that may reduce the value of the Mortgage. Party B shall have he right to check the use and management of the Mortgage. 

  

	7.2	If the Mortgage is damaged or lost, Party A shall in time notify Party B of the damage or loss and immediately take measures to prevent the spread of damage or loss. At the same
time, Party A shall submit to Party B the evidence(s) issued by the relevant authority for proving the said damage or loss. 

 Article 8
Insurance 
  

	8.1	Within 15 days after execution hereof, Party A shall procure property insurance coverage for the Mortgage from the relevant insurance institution against basic risk and
additional        risk; the insurance period shall not be shorter than the period for performing the Main Contracts and the amount insured shall not be lower than that as agreed in Article 2 hereof.

  

	8.2	Party A shall definitely specify in the insurance policy that the insurance interest shall be transferred to Party B; that once any insured incident occurs, the insurer shall
directly transfer the amount insured to the bank account designated by Party B; that, before any insured incident occurs, if the Mortgagor has performed his obligations under the Main Contracts, Party B shall refund the said amount insured to Party
A; that neither the insurance contract nor the policy shall have any provision that may restrict Party B from exercising his assignee’s right and requesting the amount insured. The policy shall be held by Party B. 

 

	8.3	During the validity period of this Contract, Party A shall not discontinue or cancel the insurance coverage for any reason whatsoever. In case the insurance coverage is
discontinued, Party B shall have the right to procure insurance coverage for and on behalf of Party A who shall bear all the associated expenses. 

  

	8.4	As to the compensatory payment for insurance, Party A hereby agrees that Party B shall have the right to dispose it in any of the following ways and agrees to provide assistance in
completing relevant formalities: 

  

	 	I.	Use it to pay off the principals and interest thereupon under the Main Contracts and relevant expenses; 

  

	 	II.	Transfer it into term deposit and mortgage the deposit receipt; 

  

	 	III.	If so agreed by Party B, use it to reinstate the Mortgage to restore the value thereof; 

  

	 	IV.	Deposit it with a third party designated by Party B; 

  

	 	V.	After Party A provides new mortgage meeting the requirements of Party B, the liquidated damages can be freely disposed. 

  

	8.5	During the duration of the hypothecation, if the value of the Mortgage is reduced as a result of any act of any third party, the liquidated damages shall be deposited into the
account designated by Party B. As to the said liquidated damages, Party A agrees that Party B shall have the right to dispose it in any of the following ways and agrees to provide assistance in completing relevant formalities:

  

	 	I.	Use it to pay off the principals and interest thereupon under the Main Contracts and relevant expenses; 

	 	II.	Transfer it into term deposit and mortgage the deposit receipt; 

  

	 	III.	If so agreed by Party B, use it to reinstate the Mortgage to restore the value thereof; 

  

	 	IV.	Deposit it with a third party designated by Party B; 

  

	 	V.	After Party A provides new mortgage meeting the requirements of Party B, the liquidated damages can be freely disposed. 

 Article 9 Realization of Hypothecation 
  

	9.1	When exercising the hypothecation, after negotiation with Party A, Party B shall have the right to convert the Mortgage into money pursuant to the provisions of relevant laws and
regulations so as to pay off the debts of the Debtor under the Main Contracts or auction or sell of the Mortgage and use the proceeds to pay off the debts. 

  

	9.2	When Party B disposes the Mortgage as per Article 9.1 herein, Party A shall provide cooperation and in no way set up any barrier. 

  

	9.3	The effectiveness of the hypothecation hereunder covers the res accessoria of, secondary rights to, attachments to and accretions to the Mortgage as well as the amount insured,
liquidated damages and/or compensatory payment as a result of any damage to , loss of or confiscation of the Mortgage. 

  

	9.4	Upon expiration of the period for performing the obligations under the Main Contracts, if the Debtor fails to perform his obligations and, as a result, the Mortgage is legally
detained by a people’s court, on and from the date of detention, Party A shall have the right to collect the natural fruits and legal fruits separated from Mortgage. Payment shall be made in the following sequence: 

  

	 	I.	Expenses spent on collecting the fruits; 

  

	 	II.	Interest and other expenses under the Main Contracts; 

  

	 	III.	Principals of obligations. 

 Article 10 Rights and Obligations of Party
A 
  

	10.1	As per the requirements of Party B, Party A shall provide in time the financial statements and relevant documents and guarantee that all of the provided documents are true and
lawful. 

  

	10.2	Party A shall have the obligation to sign for the collection letter or other collection document issued by Party B and to send back the return receipt within 3 days after signing
for it. 

  

	10.3	Within the validity period of this Contract, without written consent from Party B, Party A shall not sell or present the mortgaged property as a gift; before Party A moves,
leases, assigns, re-mortgage (or pledge) or in any other way transfers the mortgaged property hereunder, written consent shall be obtained from Party B. 

  

	10.4	Except extending the term hereof or increasing the amount herein, if Party B modifies any provision of the Main Contracts as per the application from the Debtor, Party B shall be
regarded as having obtained prior consent from Party A and need not give any notice to Party A and, in such cases, Party A still bear the mortgage guarantee responsibilities within the scope of mortgage & guarantee as defined herein.

  

	10.5	 If any act of Party A suffices to reduce the value of the Mortgage, Party A shall stop the said act; when the said act has reduced the value of the Mortgage, Party
A shall have the obligation to restore the value of the Mortgage or provide additional guarantee equivalent to the reduced 

	 	 
value. During the duration of the hypothecation, if any act of a third party makes the value of the Mortgage insufficient to pay off the principals of the
obligations and the interest thereupon under the Main Contracts and the interest thereupon, Party A shall provide additional guarantee acceptable to Party B. The remaining part of the Mortgage shall still be used as the guarantee for the
creditor’s rights. 

  

	10.6	If Party A is not liable for the reduced value of the Mortgage, Party A shall provide Party B guarantee, provided that the guarantee does not exceed the liquidated damages
received by Party A. The remaining part of the Mortgage shall still be used as the guarantee for the creditor’s rights. 

  

	10.7	If the government confiscates the Mortgage hereunder the need of construction, Party A shall use the received compensatory payment to pay off the guaranteed principal
creditor’s rights before they become due or deposit the received compensatory payment with a third person as agreed by both parties. 

  

	10.8	Party A shall bear relevant expenses spent hereunder, including but not limited to lawyer services, property insurance, notarization, authentication, evaluation, registration,
ownership transfer, transportation, custody, litigation, etc. 

  

	10.9	After this Contract takes effect, if Party A is separated or merged or undergoes shareholding reform or any other change, Party A shall properly perform its guarantee obligations
hereunder. 

  

	10.10	When the hypothecation is or may be infringed by any third party, Party A shall notify Party B and assist Party B in avoiding the infringement. 

  

	10.11	In any of the following circumstances, Party A shall in time send a written notice to Party B and assist Party B in performing its mortgage guarantee responsibilities, provide
additional guarantee or take other protective measures as agreed in the contract to protect hypothecation from being infringed: 

  

	 	10.11.1	The operational mechanism of Party A changes, e.g. it is contracted, leased, affiliated, merged, separated or undergoes shareholding reform or cooperates with any foreign individual
or entity, etc; 

  

	 	10.11.2	The scope of business or the amount of registered capital or the equity structure of Party A changes; 

  

	 	10.11.3	Party A is involved in any major economic dispute or litigation; 

  

	 	10.11.4	The ownership of the Mortgage is under dispute; 

  

	 	10.11.5	Party A becomes bankrupt, goes out of business, gets dissolved or is ordered to stop operation for rectification or the business license of Party A is revoked or withdrawn;

  

	 	10.11.6	The domicile, telephone number and/or legal representative of Party A changes. 

	10.12	If any of the circumstances specified in 10.11.1 and 10.11.2 will occur, Party A shall give Party B a 30 days’ written notice; if any of the other circumstances agreed in 10.11
occurs, Party A shall give Party B a written notice within 5 days after the occurrence. 

  

	10.13	After the Debtor under the Main Contracts pays off all the obligations specified in Article 4 hereof, he shall have the right to request the release of the Mortgage hereunder.

  

	10.14	If the discharge by the Debtor under the Main Contracts is judged by a judicial department as invalid discharge, Party A shall continue to bear his guarantee responsibilities within
the original scope of mortgage & guarantee. 

	10.15	Under the import L/C, once Party B accepts, pays or negotiates the L/C according to the clauses thereof, Party A shall bear an un-defendable guarantee obligation. This obligation
shall not be released or defended as a result of any stop-payment order or injunctive issued by any judicial authority or administrative authority specific to the payment obligation under the L/C or as a result of arresting, detaining or freezing
any property related to the L/C or any similar measures. 

  

	10.16	Without written consent from Party B, Party A shall not transfer in part or in whole his rights or obligations hereunder. 

  

	10.17	During the term of this Contract, if Party B transfers his principal creditor’s rights to any third party, Party A shall bear his guarantee responsibilities within his
original scope of mortgage & guarantee. 

  

	10.18	If any ongoing project is used for mortgage guarantee, after the project construction is completed and accepted and the ownership certificate is obtained, Party A shall actively
cooperate with Party B in completing the real property mortgage registration formalities with relevant mortgage registration authority. 

 Article 11 Rights and Obligations of Party B 
  

	11.1	Party B shall have the right to request Party A to provide relevant documents evidencing his legal identity. 

  

	11.2	Party B shall have the right to request Party A to provide financial reports and other documents reflecting his credit standing. 

  

	11.3	In any of the following conditions, Party B shall have the right to legally dispose the Mortgage:  

  

	 	11.3.1	Party B does not receive the discharge upon the expiration of the time for re-paying in part or in whole the principal of the obligation under the Main Contracts or the interest
thereupon; 

  

	 	11.3.2	When any of the conditions specified in Article 10.5 herein occurs and Party A fails to separately provide corresponding guarantee; 

  

	 	11.3.3	Other circumstances under which Party B can realize its creditor’s rights earlier as per the provisions of the Main Contracts; 

  

	 	11.3.4	Other circumstances under which Party B can realize hypothecation as per the provisions herein. 

  

	11.4	If it is agreed to dispose the Mortgage earlier as per the provisions in this Contract, Party A agrees that Party B shall have the right to dispose the proceeds from the disposal of
the Mortgage in the following means: 

  

	 	I.	Use it to pay off the principals and interest thereupon under the Main Contracts and relevant expenses; 

  

	 	II.	Transfer it into term deposit and mortgage the deposit receipt; 

  

	 	III.	Deposit it with a third party designated by Party B; 

  

	11.5	In any of the following conditions, Party B shall have the right to dispose the Mortgage earlier and get paid first from the proceeds from the disposal: 

  

	 	11.5.1	Party B legally dissolve the Main Contracts as per the provisions thereof, provided that the main obligations under the mortgage contract have been incurred in part or in whole
and have not been performed in full; 

	 	11.5.2	When Party B requests the Debtor to perform his obligations earlier as per the provisions of the Main Contracts and the creditor’s rights under the Main Contracts cannot be
realized or cannot be realized in whole. 

  

	11.6	Party B shall have the right to request Party A to assist Party B in protecting the hypothecation from being infringed by any third party. 

  

	11.7	Unless otherwise specified by any laws, regulations and/or financial rules, Party B shall keep confidential of the undisclosed information contained in any and all relevant
documents, financial reports and other relevant documents submitted by Party A during the performance of his obligations hereunder; 

  

	11.8	If Party B needs to legally transfer the principal creditor’s rights, it shall give a notice to Party A in time; 

  

	11.9	After the hypothecation is realized, Party B shall does its best efforts to cooperate Party A in exercising his right of recovering the Mortgage from the creditor.

  

	11.10	The balance of the proceeds from disposal of the Mortgage hereunder after repayment of all the obligations within the scope of mortgage & guarantee hereunder shall be
returned to Party A. 

 Article 12 Liabilities for Breach of Contract 
  

	12.1	Party A shall be responsible for compensating Party B for any and all losses caused by any false statement made by Party A in Article 1 herein. 

  

	12.2	After this Contract takes effect, both Party A and Party B shall perform their respective obligations as agreed herein. If any party hereto fails to perform in part or in whole its
obligations agreed herein, the said party shall bear the corresponding liabilities for breach of contract and compensate the resulting losses sustained by the other party. 

  

	12.3	If any fault on the part of Party A makes this Contract invalid, Party A shall, within his original scope of mortgage & guarantee, compensate all the losses sustained by
Party B. 

 Article 13 Effectiveness, Modification, Dissolution and Termination of Contract 
  

	13.1	This Contract will take effect on and from the date of execution. If it is requested by laws and regulations that the mortgage contract shall not become effective before the
mortgage registration, this Contract will not go into effect until and after the mortgage registration formalities are completed at the relevant mortgage registration authority. The validity period of this Contract will end until all the monies
specified in Article 4 herein have been paid. 

  

	13.2	This Contract is independent from the Main Contracts and its validity will not be affected by the invalidity of any of the Main Contracts. Invalidity of the Main Contracts become
in part or in whole will not affect the validity of this Contract; Party A shall bear his mortgage guarantee responsibilities hereunder. 

  

	13.3	After this Contract takes effect, neither party shall modify or dissolve it at his/its own discretion. If this Contract needs to be modified or dissolved, both parties shall,
through negotiation, reach a written agreement which shall constitute an integral part hereof. Before the said written agreement is signed, this Contract will continue to be effective. 

  

	13.4	Any modification or dissolution of this Contract will not affect the right of either party to request compensation. Dissolution of this Contract shall not affect the force and
effect of the provisions herein regarding the settlement of disputes. 

	13.5	The invalidity or unenforceability of any provision herein shall not affect the validity or enforceability of other provisions herein or affect the effect and force of this Contract
as a whole. 

  

	13.6	If Party B fails to exercise, exercise in part or delays in exercising any of its rights hereunder, it will not constitute any waiver or modification of this right or any other
rights or prevent Party B from further exercising this right or any other rights. 

 Article 14 Dispute Settlement 
  

	14.1	Any dispute arising between Party A and Party B during the process of performing this Contract shall be settled between Party A and Party B through negotiation. In case negotiation
fails to settle the dispute, it shall be settled by (2) of the following means: 

  

	 	(1)	The dispute shall be submitted to             arbitration commission for arbitration as per the arbitration
rules of the said commission; 

  

	 	(2)	The dispute shall be submitted to the local people’s court of the place where Party B is located for settlement through litigation. 

  

	14.2	During the period of litigation or arbitration, all the provisions hereof not involved in the dispute shall continue to be performed. 

 Article 15 Other Issues 
  

	15.1	Party A shall disclose to Party B his related-party relations and related-party transactions in a timely, comprehensive and accurate manner. If Party A fails to disclose the
above-mentioned information or if any of the following conditions occurs to Party A or any of his related parties and may have adverse impact on the performance by Party A of any of his obligations hereunder, Party B shall have the right to take
remedial actions as agreed herein and specified in relevant laws. 

  

	 	(I)	The financial status of any of the related parties of Party A deteriorates; 

  

	 	(II)	Party A or any of his related parties is under legal investigation by or subject to legal punishing measures taken by any judicial department, tax authority, administration for
industry and commerce, etc; 

  

	 	(III)	The control relationship between Party A and any of his related parties has changed; 

  

	 	(IV)	Any related party of Party A gets or may get involved in any major economic dispute, lawsuit and/or arbitration; 

  

	 	(V)	Any of the main individual investors and key managers of Party A changes abnormally or is suspected of any illegal/criminal act and is placed under investigation by any judicial
department or is limited in terms of personal freedom; 

  

	 	(VI)	Any other issue on the part of any of the related parties of Party A that may have adverse impact on the borrower. 

 As per the Accounting Standards for Business Enterprises – Disclosure of Related-party Relationships and Related-party Transactions, for the
purpose of this article, a related party refers to: 
  

	 	(I)	Any other enterprise directly or indirectly controlled by Party A or any other enterprise that directly or indirectly controls the borrower, and any other enterprise under the
common control as Party A is; 

	 	(II)	A joint venture of Party A; 

  

	 	(III)	An affiliate of Party A; 

  

	 	(IV)	Any of the main individual investors, key managers or close family members of Party A; 

  

	 	(V)	Any other enterprise directly controlled by any of the main individual investors, key managers or close family members of Party A. 

 Other terms in this article shall have the same meanings as they have in the Accounting Standards for Business Enterprises – Disclosure of
Related-party Relationships and Related-party Transactions. 
  

	15.2	During the financing period, when the Mortgagee (Party B) revaluates the value of the Mortgage, if the product of the revaluated value by the agreed mortgage rate (i.e. discount)
is smaller than the financed amount, the borrower shall repay part of the financed money or increase the guarantee; otherwise, the Mortgagee (Party B) shall have the right to legally dispose the Mortgage. 

  

	15.3	

  

	15.4	

  

	15.5	

 Article 16 Attachments 
  

	16.1	The attachments hereto constitute an integral part hereof and have the same force and effect as the main body of this Contract. 

  

	16.2	Attachments hereto are: 

 Attachment 1: List of Mortgages

 Attachment 2: 
 Article 17 Supplementary
Rules 
  

	17.1	This Contract is made in triplicate, one copy for each of Party A, Party B and the related mortgage registration authority. Each of these three copies has the same legal force and
effect. 

  

			
	Party A (Seal):	 	Party B (Seal):
	 Legal Representative:
 (or Authorized Agent)
	 	 Legal Representative
 (Responsible Person):
             (or Authorized
Agent)

	May 26th 2006	 	May 26th 2006

 Attachment 1 
 List of Mortgages 
 No.: 2006 JS (N) No.0059 
  

																	
	 Name
	 	 Quantity
	 	 Quality
	 	 Condition
	 	 Location
	 	 Ownership
 and
 Ownership
Certificate
	 	 Valuated
 Value
 (10,000
 Yuan)
	 	 Mortgage
Value for
 Other
Creditor’s
Rights
 (10,000
 Yuan)
	 	 Other
 Issues

	 Land
	 	21726.11m2	 	Good	 	Good	 	 Yaozhuang
 Town
 Industrial
 Park

	 	 SGY (2005)
 NO.107-4068
	 	584	 		 	
	 Real Property
	 	5591.94 m2	 	Good	 	Good	 	 Yaozhuang
 Town Industrial
 Park
	 	00090208	 	423	 		 	
		 		 		 		 		 		 	 Total:
 1007
	 		 	

  

							
	 Mortgagor:
	  	(Seal)            	  	Mortgagee:	  	(Seal)                

							
		
	 Legal Representative (Responsible Person) or Authorized Agent: (Seal)
	  	Responsible Person or Authorized Agent: (Seal)
		
	MM DD YYEnglish Translation of Equipment Purchase and Sales Contract

 Exhibit 10.18 
 English Translation 
 Equipment Purchase and Sales Contract 
  

			
	Seller: Shanghai Hanhong Precision Machinery Co., Ltd	  	Contract No.: FISM0704028
	(“Hanhong”)	  	
	Buyer: Zhejiang Yuhui Solar Energy Co., Ltd	  	Date:02th JUN, 2007
	(“Yuhui”)	  	

  

	I.	Product description, trademark, model, manufacturer, quantity, amount, delivery time and quantity 

  

															
	 Description
	  	 Model
	  	Unit	  	Qty	  	 Unit Price
 (RMB)
	 	 	Total Amt
(RMB)	 	 	 Delivery time

	Silicon Monocrystallince Furnace	  	 FT-CZ2008
 See parameter list for details
	  	Set	  	120	  	[****]*	 	 	[****]*	 	 	By Oct. 20th 2007, the first installment of 20 sets will be delivered from Hanhong
Factory. Thereafter, from Nov. 2007 to March 2008, 20 sets will be delivered by the 20th day of each month in principle. However, the installment of 40
sets shall be delivered first under this Contract. For the subsequent 80 sets, the Buyer shall give the Seller 90 days notice before production and delivery. The validity period of the pricing term of the whole contract will end on April 30th 2008. After this date, the unit price for the remaining equipment specified under this Contract will be renegotiated and determined between both parties. In
order to ensure the delivery of the first 20 sets, the general contract must be signed by June 2nd 2007 (for details of equipment, please see Attachment 4
hereto)
	 Delivery by installments
	  	FT-CZ2008	  	Set	  	40	  	[****]	*	 	[****]	*	 
	  	  	  	40	  	[****]*	 	 	[****]*	 	 
	  	  	  	40	  	[****]*	 	 	[****]*	 	 
	 Total:
	  		  		  	120	  			 	[****]*	 	 	
	 Total amount (in words): [****]*
	  		  		  		  			 			 	
	 Remarks: the Seller shall provide VAT invoices.
	  		  		  		  			 			 	

  

	II.	Quality requirements and technical standards: as per the product specifications, requirements and standards of the Seller as confirmed by both parties (for details, please
see Attachment 1 hereto). 

  

	III.	Quality warranty of the Seller: The complete-machine warranty period provided by the Seller is one year after deliver and acceptance. The Buyer shall ensure normal operation
of its goods under normal use and maintenance conditions. The Buyer shall be responsible for any quality problems caused by damage, improper installation and/or improper use of the machinery by the Buyer (Hanhong shall be responsible)

	*	This portion of the Sales Contract has been omitted and filed separately with the Securities and Exchange Commission, pursuant to Rule 406. 

	IV.	Place and Method of delivery: EX the factory of the Buyer; address: (Jiashan County, Zhejiang) (Hanhong shall be responsible) 

  

	V.	Transportation, station/port of destination and expenses: the Seller shall be responsible for both determining the means and bearing the transportation expenses.

  

	VI.	Packaging standards and supply and recovery of packing materials: equipment shall be packed in strong wood cartons which will not be recovered; for packing requirements,
please see Attachment 2 hereto. 

  

	VII.	Accompanied accessories: for details, please see Attachment 3 hereto. 

  

	VIII.	Acceptance criteria, method and deadline for objection: acceptance shall be performed as per the product specifications provided by the Seller and confirmed by both parties
(Shanghai Hanhong Company shall be responsible). 

 Means of acceptance: (for acceptance criteria for installation, testing,
calcination and trial pulling, please refer to Attachment 5 hereto). 
  

	 	1.	Unpacking inspection of silicon monocrystalline furnace 

 Yuhui will conduct unpacking inspection on the monocrystalline furnace shipped by the Seller and issue the inspection report in accordance with the packing list of monocrystalline furnace; 
  

	 	2.	Installation and testing of monocrystalline furnace: Hanhong will work together with Yuhui in installing and testing monocrystalline furnace. After testing is completed, the
equipment testing group led by Hanhong will provide a written report to Yuhui to confirm that the monocrystalline furnace are ready for operation. Yuhui shall be responsible for ensuring the supporting system for the operation of the monocrystalline
furnace. 

  

	 	3.	monocrystalline furnace calcination 

 Hanhong will work
together with Yuhui in calcining installed and tested monocrystalline furnace to test the performance of the electrical parts of each set and the equipment testing group lease by Hanhong will complete the final written report for the operation of
electrical and mechanical parts during the process of calcination. 
  

	 	4.	Trial pulling of the monocrystalline furnace 

 Hanhong and
Yuhui will conduct trial pulling of the monocrystalline furnace that has passed the calcination test so as to fully test the performance of the monocrystalline furnace. The crystal pulling conditions for trail pulling will be proposed and prepared
by Hanhong and be implemented after full communication with Yuhui. 
 Acceptance criteria: 
  

	 	1.	Yuhui will prepare 95kg multicrystalline silicon material (Yuhui shall ensure that, under normal process conditions, the material used for acceptance shall be able to be pulled into
monocrystalline products which comply with the acceptance conditions) and a 20-inch quartz crucible to pull two ovens of monocrystalline products on the monocrystalline furnace to test the overall operation performance of the monocrystalline
furnace. The process conditions for testing crystal pulling will be proposed by Hanhong and implemented after being confirmed by Yuhui through full communication. 

  

	 	2.	Requirements for single crystals: 

  

	 	•	 	 Isometric crystal diameter: target value+/-2mm 

  

	 	•	 	 Mean single-crystal length after crystallization>= 800mm.8 (excluding non-conformance caused by the material or any other reasons than the equipment itself)

 Test method: The length of a calibrated measuring tape running from the head of the crystal ingot to the fault line of
the ingot. 
  

	 	•	 	 During the process of crystal pulling, no significant crystal growth failure is caused by any mechanical/electrical failure 

  

	 	•	 	 Crystal pulling reports recognized by both parties 

  

	 	3.	Yuhui is responsible for disposing the crystal ingots pulled during acceptance and the silicon pot scraps. 

  

	IX.	 Installation, testing and services: the Seller shall be responsible for installing and testing the equipment and for providing trainings in operation as well
as day-to-day maintenance. The Buyer must provide corresponding cooperation, e.g.: tools, equipment, electric power, gas, personnel, etc used in the process of installation (before shipment of the equipment, the Seller will provide a 

	 	 
detailed list). Once any machinery fails, the Seller will arrive at the site within 24 hours to eliminate the failure. For the detailed field training plan,
please see Attachment 6 hereto (Shanghai Hanhong Company shall be responsible). 

  

	X.	Method and Term of Settlement 

 Within one week after the contract is signed, the Buyer shall pay by T/T 30% of the price of the
first 40 sets, and 7 days before shipment, 65% of the price shall be paid by T/T. The remaining 5% shall be paid by T/T within 15 days after installation and testing is completed. Production of the remaining 2nd and 3rd shipments will begin after the Seller receives the 90 days’ notice from
the Buyer. Payment for the 2nd and 3rd shipments will be made
in the same manner as that for the first shipment. 
  

	XI.	Force majeure: if the Seller delays in delivering goods or cannot deliver goods due to any force majeure event or any other reason acceptable to both parties (including but
not limited to any event that occurs during the process of manufacturing, loading or transportation, the Seller can be released from its responsibilities, provided that the Seller notifies in writing the Buyer of the event within 5 days after its
occurrence and does its best efforts to minimize the impact of the force majeure event. 

  

	XII.	Settlement of disputes: any dispute arising from the performance of or in connection with this Contract shall be solved through friendly negotiation between both parties. If
no settlement can be reached through negotiation, it shall be submitted to the local arbitration commission of the place where this Contract is executed. This arbitral award shall be final and bonding on both parties. The losing party shall bear the
arbitration fees. 

  

	XIII.	Other agreed issues: 

  

	 	1)	Through negotiation between both parties, it is that, before this Contract is completely executed, the Seller agrees to change the Buyer in this Contract, provided that the
following conditions are satisfied: 

  

	 	•	 	 If the Buyer herein changes, a new purchase contract must be signed in the name of the new buyer. 

  

	 	•	 	 If a new contract is signed in the name of a new buyer, other provisions shall remain unchanged, except that the buyer is changed.

  

	 	•	 	 The new buyer must be a Chinese enterprise or a joint venture in China and controlled by RENESOLA or an enterprise exclusively owned RENESOLA so as to ensure
that the transaction currency (RMB) and means remain unchanged. 

  

	 	•	 	 Before the new contract is signed, performance of this Contract shall be continued and shall not be terminated without justification.

  

	 	•	 	 When the new contract is signed, this Contract will be automatically rescinded. Once the new contract takes effect, all acts completed under this Contract
shall be automatically transferred to the acts completed under the new contract, including advance payments, etc. 

  

	 	•	 	 The new contract must be signed before the Seller supplies the first shipment of equipment, because the principal cannot be changed as a result of the VAT
invoice issued by the Seller. 

  

	 	•	 	 In case the Buyer cannot modify this Contract before delivery of goods and issuance of invoices, the part for which the VAT invoices have been issued and
goods have been delivered can only be regarded as the execution under this Contract, and only the unexecuted part of this Contract can be modified. 

  

	 	2)	The location of the air exhaust opening of equipment shall be modified as per the request of the Buyer; the modification shall not be executed before the new drawing is confirmed by
both parties. 

  

	 	3)	Hanhong promises to supply together with the first three Hanhong monocrystalline furnace the graphite heating system suitable for use by the such furnace. The price for the graphite
shall be separately calculated (for details, please see Attachment 7 hereto). The working drawing for this heating system shall be subject to final confirmation by both parties before execution. 

  

	 	4)	The price in this Contract excludes the primary and secondary vacuum pumps needed by the equipment, which will be separately purchased by Yuhui. The supplier recommended by Hanhong
is Zhejiang Vacuum Equipment Group Co., Ltd in Taizhou, Zhejiang Province. 

	 	5)	The attachments hereto and drawings will constitute an integral part hereof and have the same legal effect as this Contract. 

  

	 	6)	This Contract will take effect after being signed by the authorized representatives of and affixed with the seals of both parties. 

  

	 	7)	If the Buyer delays in making any payment, the delivery time will be correspondingly postponed. 

  

	 	8)	If the Seller cannot deliver goods by the specified time, it shall negotiate with the Buyer in advance and reach an agreement. Otherwise, the Seller shall pay to the Buyer a penalty
equal to 0.05% of the total price of the equipment delayed per day. 

  

	 	9)	If the Buyer cannot make payment by the specified time, it shall negotiate with the Seller in advance and reach an agreement. Otherwise, the Buyer shall pay to the Seller a penalty
equal to 0.05% of the total amount of the overdue payment per day. 

  

	 	10)	Any provision in this Contract, the end of which is marked with “Hanhong shall be responsible”, shall be within the exclusive responsibility of Hanhong.

  

	 	11)	This Contract is made in duplicate, one copy for each of the Seller and the Buyer. If any issue not covered herein needs to be supplemented, a separate written agreement shall be
signed by both parties. The supplementary agreement and this Contract shall have the same legal effect. 

  

	XIV.	Conditions for termination of the contract 

 If the
price of goods cannot be paid in time in accordance with the provisions herein, which results in material loss on the part of the Seller, the Seller shall have the right to terminate this Contract and stop the corresponding after-sales services and
trainings. Similarly, if the goods cannot be delivered in time in accordance with the provisions herein, which results in material loss on the part of the Buyer, the Buyer shall have the right to dissolve this Contract. No dissolution hereof shall
prejudice against the right of the affected party to claim from the other party default penalty, including but not limited to direct economic loss and expenses spent on recovering the loss. If no agreement is reached between both parties through
negotiation, the dispute will be settled in accordance with the provisions of Article 12 hereof. 
  

			
	Seller	 	Buyer
	 Name (seal): Shanghai Hanhong Precision Machinery Co., Ltd. (Seal)
 Address: Baoshan Industrial Park, Shanghai
 Legal Representative: Shan Cunzhang
 Authorized agent: /s/Zhao Zhihong June 2, 2007
 Tel:
 Paying bank: Bank of China, Shanghai Branch
 A/C No.:
044434-8400-13267808091001
 Tax Registration No.: 310113772117540
	 	 Name (seal): Zhejiang Yuhui Solar Energy Co., Ltd. (Seal)
 Address: No.8, Baoqun Road, Yaozhuang Town Industrial Park, Jiashan County, Zhejiang Province
 Legal Representative: Li Xianshou
 Authorized Agent: /s/ Huang Binghua June 2, 2007
 Tel:
0573-84773392
 Opening bank: ICBC, Jiashan Branch
 A/C No.:
1204070009242025955
 Tax Registration No.: 330421753019961

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