Agreement
Exhibit
4.59
Agreement
No.:
QT220080179
Party A:
China Electric Equipment Group Corporation
Party B:
China Sunergy (Nanjing) Co., Ltd.
Party C:
CEEG (Nanjing) New Energy Co., Ltd.
Hereinafter
referred to as Party A, Party B and Party C
Due to
the expiration of creditor’s right and debts of the three parties, and through
friendly consultations, the three parties agree to transfer creditor’s rights
and debts as below.
1. Party
A will transfer the creditor’s rights that Party B owes to Party C, totaling RMB
Nine Million Three Hundred and Twenty-Two Thousand Nine Hundred and Thirty-Six
Point Two (￥9,322,936.20).
2. Party
C will offset the creditor’s rights transferred by Party A against the debts
that Party C owes to Party B.
3. Party
B and Party C will negotiate over the balance that Party B owes to Party C after
the offset.
This
agreement is made in three duplicate copies, one page attachment, which shall be
regarded as an accounting certificate for each party.
Party A:
China Electric Equipment Group Corporation /s/
December
30, 2008
Party B:
China Sunergy (Nanjing) Co., Ltd. /s/
December
30, 2008
Party C:
China New Energy (Nanjing) Co., Ltd. /s/
December
30, 2008
