EMAS Offshore Limited: Update on Revised Financial Calendar »

SINGAPORE, Dec. 13, 2017 /PRNewswire/ —

The Board of Directors of EMAS Offshore Limited ("EOL" or the "Company") wishes to announce that EOL has on even date released the unaudited financial report for the period ending 28 February 2017 ("1H FY2017").

The Company is currently working on the unaudited 2H FY2017 financial report in light of the ongoing restructuring efforts of the Company and certain of its subsidiaries as well as the Audited FY2016 Annual Report whereby the respective release dates (including the date of the Annual General Meeting 2016) will be updated in due course.

This announcement is subject to disclosure in accordance with section 5-12 of the Norwegian Securities Trading Act and section 4.6 of the Continuing Obligations.

By Order of the Board

Lee Kian Soo


13 December 2017


Mr Hsu Chong Pin Chief Financial Officer Email: investor_relations@emasoffshore-cnp.com Tel: +(65)-6349-8535 Fax: +(65)-6224-9756

This information was brought to you by Cision http://news.cision.comhttp://news.cision.com/emas-offshore-limited/r/update-on-revised-financial-calendar,c2413645

The following files are available for download:



SOURCE EMAS Offshore Limited

Written by Vicky Denton
December 13, 2017

EMAS Offshore Limited: Release of Unaudited Financial Report for the Period Ending 28 February 2017 (“1H FY2017”) »

SINGAPORE, Dec. 13, 2017 /PRNewswire/ — Please see the attached PDF file for Announcement relating to release of unaudited financial report for the period ending 28 February 2017 ("1HFY2017").

Announcement – EOL Unaudited 1H FY2017 Financial Report

Date: 13 December 2017


Mr Hsu Chong Pin

Chief Financial Officer

Email: investor_relations@emasoffshore-cnp.com

This information was brought to you by Cision http://news.cision.com


The following files are available for download:




Announcement – EOL Unaudited 1H FY2017 Financial Report

SOURCE EMAS Offshore Limited

Written by Vicky Denton
December 13, 2017

JA Solar Sets New World Record of Output Power for 60-cell Modules Assembled by mono-Si PERC cells »

BEIJING, Dec. 13, 2017 /PRNewswire/ — JA Solar Holdings Co., Ltd., one of the world's largest manufacturers of high-performance solar power products, today announces the output power of its 60-cell PV modules assembled by mono-Si PERC cells has exceeded 325W. The actual output power of 326.67 W measured and certified by TUV SUD sets a new world record for 60-cell mono-Si PV modules.

As one of the largest PV product manufacturers in the world, JA Solar has been instrumental in developing advanced PV technologies through invention and innovation. In 2010, the Company filed an invention application for its industrial PERC cell structure and the method of production, the patent was granted by the Patent and Trade Mark Office of Chinese National Bureau of Intellectual Properties in 2012. In 2013, JA Solar was the first company to break the 20% conversion-efficiency barrier for the industrial version of PERC solar cells using screen-printing metallization process, and started mass production of PERC-based cells and modules in the following year. JA Solar also holds the intellectual property rights for bifacial PERC cells with a Chinese patent granted by the National Bureau of Intellectual Properties of China in 2016.

PERC technology has increasingly become the mainstream approach for high-performance PV products in the past few years. According to SEMI PVITR, PERC products will account for 40% of total product shipments by 2020. The advance of PERC technology as well as the wide adoption of the technology have significantly impacted on the solar powered energy generation in terms the reduction of levelized cost of energy and grid parity. Currently, the average power output of the 60-cell PV modules assembled with mono-Si PERC cells JA Solar offers is 300W. This newly set world record is a result of JA Solar's unwavering commitment of continuous performance improvement, as well as its strong R&D effort and drive devoted for advancing PV technology. It is also a result in preparation to meet the technological challenge of the "Front Runner" initiative as a showcase for the PV industry set forth by the Chinese government. PERC has been the favored products for the initiative since it officially started. In 2016, JA Solar provided 422MW PV modules with 40% of them being mono-Si PERC for the first 1GW demonstration phase of this "Front Runner" initiative as the largest module supplier in the project.

"Setting a new world record of over 325W output power from a 60-cell mono-Si PV module is remarkable achievement enabled by PERC technology," said Dr. Wei Shan, Chief Technology Officer of JA Solar. "It is also a testament of the unrivaled efforts at JA Solar that focus on developing high-efficiency, cost-effective PV products meet the ever increased demand for clean energy through technological innovation and continuous performance improvement, as well as the commitment and the tradition of JA Solar to provide our customers high-performance PV products with high quality and reliability."
SOURCE JA Solar Holdings Co., Ltd.

Written by Vicky Denton
December 13, 2017

Blackjewel, Javelin and Uniper Form Joint Venture to Market Thermal and Metallurgical Coal »

LONDON, December 13, 2017 /PRNewswire/ —

Blackjewel LLC ("Blackjewel"), Javelin Global Commodities ("Javelin") and Uniper SE ("Uniper") announce the formation of a joint venture called Blackjewel Marketing and Sales Holdings LLC (the "Joint Venture").

The Joint Venture will market 100% of the thermal and metallurgical coal produced at Blackjewel's mines, via exclusive marketing arrangements with Javelin for the domestic and export sale of metallurgical coal and domestic sale of thermal coal and Uniper for the sale of export thermal coal. Javelin and Uniper will provide hedging, logistics, execution and optimization services to Blackjewel through the Joint Venture which will be managed by Javelin. Blackjewel's agreement to market coal with Noble will be cancelled.

Blackjewel is a leading Central Appalachian coal producer, with 28 mines, 5 wash plants and 7 loadout facilities on the CSX and NS railroads located throughout Kentucky, Virginia and West Virginia. The portfolio currently produces 5 million tons per annum and is expected to grow to 11 million tons per annum by 2020, of which 7 million tons will be metallurgical coal. In addition, Blackjewel recently acquired the combined 35-40 million ton per annum Bell Ayr and Eagle Butte mines located in Wyoming from Contura Energy. All of Blackjewel's mine production will be marketed through the Joint Venture.

Jeff Hoops, Chairman, President, and Chief Executive Officer of Blackjewel, said: "Blackjewel is extremely excited to have the opportunity to partner with Javelin and Uniper. We expect the Joint Venture to make an immediate impact by developing new strategies for marketing our thermal and metallurgical coal in both the domestic and export markets."

Peter Bradley, Chief Executive Officer of Javelin noted: "We are honoured that Blackjewel have placed their trust in us to help carry out their strategic vision to manage and market coal for the Joint Venture, and in addition we are delighted to further our strategic partnership with Uniper. Javelin's marketing agreement helps expand our range of metallurgical coals for our customers in the domestic and international steel industry. We are particularly pleased to work with a company like Blackjewel, which has such a strong history of growth and broad suite of high quality met and steam coals, which fits well with Javelin's desire to become a dynamic force in the global coal markets."

Keith Martin, Chief Executive Officer of Uniper Global Commodities SE, said: "We're delighted to have secured a stake in the Joint Venture. It's the ideal marriage of assets and know-how, coupling our coal and freight hedging and optimization expertise with a leading producer and a hugely experienced team of coal marketers. This transaction represents a key step in our long-term strategic vision and a vehicle to continue to grow our presence in U.S. coal markets."

Notes to Editors

Javelin Global Commodities

Javelin Global Commodities is a global commodities physical trading, logistics, operations, financing and investment group headquartered in the United Kingdom, engaged across multiple commodities sectors.


Uniper is a leading international energy company. The company owns and manages a portfolio of over 30 GW of generation across Europe and Russia, as well as focuses on commodity trading in power, natural gas, coal and freight.

This information may contain forward-looking statements based on current assumptions and forecasts made by Blackjewel, Javelin and Uniper management and other information currently available to Blackjewel, Javelin, and Uniper. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Blackjewel, Javelin, and Uniper do not intend, and do not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.

SOURCE Blackjewel, Javelin and Uniper

Written by Vicky Denton
December 12, 2017

WePower to use BlockEx for ICO »

LONDON, Dec. 12, 2017 /PRNewswire/ —

WePower, a blockchain-based green energy trading platform, is set to use BlockEx to facilitate its ICO

BlockEx is a Digital Asset Exchange Platform (DAxP). As part of its mission to offer the best digital assets to its traders, it is launching the BlockEx ICO Market. This will help companies to launch their ICOs, which will then be hosted exclusively on the platform. BlockEx provides a flow of highly vetted ICOs to traders, and everyone in its marketplace will have passed KYC and AML. BlockEx prides itself on bringing the regulatory framework and good governance of traditional financial institutions to the ICO landscape.

(Logo: http://mma.prnewswire.com/media/608924/BlockEx_Logo.jpg )

One of the high quality ICOs available on BlockEx is WePower. As BlockEx cleans up the ICO landscape, WePower is making energy cleaner. Instead of waiting for institutional change, WePower is creating an energy revolution from the ground up. WePower enables renewable energy producers to raise capital by issuing their own energy tokens. These tokens represent energy they commit to produce and deliver. Energy producers will be able to raise funds from households and investors directly by selling energy tokens.

WePower is particularly important right now, as concerns for the environment increase, and funding for new renewable energy projects decrease. Banks have started requesting increased equity on these projects. The equity to debt ratio has gone from 20:80 to 50:50. Investment has plunged 23% year-on-year. Into this environment comes WePower. It enables a more grassroots approach to funding renewable energy projects.

WePower is integrated with the energy grid and wholesale energy markets. WePower has already secured necessary partnerships with key industry players, so can start energy trading immediately. They also have an impressive team. Their CTO Kaspar Kaarlep led the first nationwide smart grid and smart metering systems implementation in Estonia. Blockchain development is led by Jon Matonis (founding partner of Bitcoin Foundation) and their token economy is structured with the help of Eyal Hertzog (chief product architect of the Bancor Protocol).

WePower will be launching the WPR token. This token stores value and ensures liquidity. Energy producers on the WePower platform donate part of the energy they produce to WPR token holders. Token holders can use this energy, or sell it. WPR tokens constantly accrue energy, meaning they accumulate real value.

BlockEx will provide technical infrastructure to buy WPR tokens using BTC, ETH and fiat. Participants can also get tokens direct from WePower using ETH.

About BlockEx

BlockEx's Digital Asset Exchange Platform (DAxP) is an institutional grade exchange with blockchain asset origination, dematerialisation and life-cycle management tools. Offices are in London, Bulgaria, Taiwan and Israel. For more information, visit https://www.blockex.com/

Written by Vicky Denton
December 12, 2017

EMAS Offshore Limited: Update on Proposed Investment Into EMAS Offshore Limited and Restructuring »

SINGAPORE, Dec. 12, 2017 /PRNewswire/ —

1. Introduction

1.1 The Board of Directors (the "Board") of EMAS Offshore Limited (the "Company" and together with its subsidiaries, the "Group") refers to the announcements made on 31 August 2017, 4 September 2017 and 26 September 2017 ("Previous Announcements"). Unless otherwise defined, terms used in the Previous Announcements shall have the same meanings when used herein.

2. Update on Investment by the Potential Investors

2.1 It was announced in the Previous Announcement that, inter alia, the Term Sheet may be terminated, and the Restructuring Exercise contemplated may be abandoned, at any time prior to closing by any of the Potential Investors or the Company, if the Restructuring Exercise was not under way by or the Scheme application was not filed by 30 October 2017.

2.2 The Board wishes to inform shareholders of the Company that on 9 December 2017 it exercised its right under the Term Sheet to terminate the Term Sheet. Accordingly, the Term Sheet was terminated with effect on 9 December 2017. On the same day, the Company entered into a new binding term sheet with BTI ("BTI Term Sheet") in relation to the proposed cash investment by BTI into the Company as part of the Restructuring Exercise of the Group ("Investment").

2.3 The BTI Term Sheet will allow the Group to continue with its Restructuring Exercise to substantially deleverage the Group's balance sheet by way of, inter alia, schemes of arrangement to be proposed by the Company and certain of its subsidiaries under Section 210 or Section 211I of the Companies Act (Cap.50) of Singapore ("Schemes") and to strengthen its working capital position by way of the subscription of new shares by BTI and co-investors, if any, to be issued out of the share capital of the Company ("New Shares"). The completion of the Restructuring Exercise and the Investment will enable the Group to continue as a going concern.

3. Salient Terms of the BTI Term Sheet

3.1 The salient terms of the BTI Term Sheet are set out in the table below:

Investment Amount

The aggregate investment amount is US$50 million for the whole and complete Restructuring Exercise ("Investment Amount").


The subscription of new ordinary shares to be issued out of the Company's capital ("New Shares") which shall rank pari passu with the ordinary shares of the Company in issue and shall be listed and quoted on the Oslo Børs and the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Investment may be structured at BTI's option as: (i) a stand-alone investment; (ii) as a cornerstone investment for a traditional capital market equity raise and/or an investment alongside a co-investor (collectively the "Investors"); or (iii) in lieu of the foregoing options, any other viable structure, subject to a minimum investment by BTI of US$25 million. For the avoidance of doubt, if there is no other co-investor and/or subscriber, BTI will invest the entire Investment Amount.

Share Issuance

The Investment Amount will result in the Investors receiving at least (and in aggregate, if more than one Investor) a majority of the enlarged issued share capital of the reorganized Company (after the issuance of the New Shares but prior to dilution by the issuance of New Shares underlying the Restructuring Exercise, the planned management incentives and subsequent repair issue of the Company's shares pursuant to the listing requirements of the Oslo Børs). To ensure business continuity and operations of the EOL Group will not be impacted, pending as well as after, the completion of the Investment and Restructuring Exercise, it is the intention of the Investors and the Company that key management and support staff of the Group is retained via the planned management incentives.

Conditions precedent

The consummation of the transactions contemplated under the Term Sheet is subject to, inter alia, the following main conditions precedent: a) satisfactory completion of due diligence by the Investors; b) satisfactory agreement to final documentation and definitive agreement; c) no material deterioration of the business and financial position and/or prospects of the Group; d) receipt of necessary corporate approvals from the Investors, including but not limited to approval from the Investors' shareholders; e) requisite approvals for the Restructuring Exercise, including the approval of the Company's shareholders having been duly obtained and such approvals not having been revoked and the Schemes having been sanctioned by the High Court of Singapore; f) receipt of all necessary governmental and regulatory approvals, consents and permits; g) receipt of approval of the Company's shareholders and/or regulatory approval, if necessary, to waive any subsequent repair issue of the Company's shares that exceeds 3% of the enlarged issued share capital of the reorganized Company (after the issuance of the New Shares but prior to dilution by the issuance of New Shares underlying the Restructuring Exercise and the planned management incentives); and h) any further conditions as deemed necessary by the Company and/or the Investors.


The Term Sheet may be terminated, and the Restructuring Exercise contemplated may be abandoned, at any time prior to closing of the Investment: a) by mutual consent of the Investors and the Company; b) by BTI in writing in the event the Company seeks to vary the terms agreed in the BTI Term Sheet; c) by the Investors in writing, if the application to convene the creditors' meeting in respect of the Schemes ("Scheme Applications") are not filed by 15 December 2017; d) by the Investors in writing, if there has been a failure to fulfil any of the material commercial terms of the BTI Term Sheet, which has prevented or would prevent the satisfaction of any condition to the closing of the Investment; e) by the Investors in writing, if the Scheme Applications are not heard within 3 months from the date of filing of the Scheme Applications; and f) by the Investors in writing, if the New Shares are not allotted and issued to the Investors and/or their nominee(s) within 6 months from the date of filing of the Scheme Applications.

4. Update on the Restructuring

4.1 The Company wishes to announce that each of the Singapore Filing Entities, namely the Company, together with its wholly owned subsidiaries, Emas Offshore Pte Ltd and Emas Offshore Services Pte Ltd, made a Scheme Application to the High Court of the Republic of Singapore ("Court") under Section 210(1) of the Companies Act (Cap.50) of Singapore.

4.2 The Scheme Applications seek, amongst others, the Court's leave for each of the Singapore Filing Entities to convene their respective creditors' meeting within four (4) months (or such period as the Court may order) from the date of the order, for the purposes of considering and, if thought fit, approving with or without modification (which modification can be made any time prior to and/or at the creditors' meeting) the respective Scheme proposed to be made between the Singapore Filing Entities and their creditors pursuant to Section 210(1) of the Companies Act (Cap.50) of Singapore.

4.3 The Scheme Applications will be heard on a date to be fixed by the Court at a pre-trial conference scheduled on 21 December 2017.

5. General

The Company will provide further updates pertaining to the Investment and/or the Restructuring Exercise when there are material developments. Shareholders should note as there is no certainty or assurance as at the date of this announcement that any definitive agreements will be entered into in connection with the Investment and/or the Restructuring Exercise. When in doubt as to the action they should take, shareholders should consult their financial, tax or other advisers.

This announcement is subject to disclosure in accordance with section 5-12 of the Norwegian Securities Trading Act.

By Order of the Board

Lee Kian Soo



Chief Financial Officer Email: investor_relations@emasoffshore-cnp.com Tel: (65) 6349 8535 Fax: (65) 6224 9756

This information was brought to you by Cision http://news.cision.comhttp://news.cision.com/emas-offshore-limited/r/update-on-proposed-investment-into-emas-offshore-limited-and-restructuring,c2411360

The following files are available for download:



SOURCE EMAS Offshore Limited

Written by Vicky Denton
December 11, 2017

To Seize Taiwan’s Offshore Wind Power Business Potential TUV Rheinland Emphasizes Risk Management »

TAIPEI, Taiwan, Dec. 11, 2017 /PRNewswire/ — In the 5+2 industries currently targeted for development in Taiwan, green energy technology is a key development item. Policies are strongly promoting the offshore wind power industry within the green energy industry. In order to assist Taiwan in the implementation of offshore wind power, this year, a wind power forum was jointly hosted by TUV Rheinland and the Taiwan Wind Turbine Industry Association . TUV Rheinland specially invited one of its foreign experts on offshore wind power safety assessments from Risktec Solution to share information on topics such as offshore wind power life-cycle risk management and analysis, international wind power standards, underwater infrastructure certification, as well as implementation and planning of offshore wind power industrial localization in Taiwan. These specialized topics brought new perspectives to a captivated audience.

The world is entering an era where clean energy is causing revolutionary changes. The power grid is undergoing a transformation as countries across the globe seek to achieve zero emissions for power systems before the year 2050. Due to the uncertainty of the global power market, along with changes in renewable energy policies in various nations, the outlook for the wind power industry can be unpredictable. The one thing that is certain is that wind power will continue to play a significant role in energy systems in the future.

According to a survey conducted by the international organization 4C Offshore, 18 of the top 20 best offshore wind power sites in the world are located within the Taiwan Strait. Taiwan's promotion of wind power can contribute to efforts in achieving a non-nuclear homeland, outstanding wind farms in the Taiwan Strait, and stimulating development of emerging industries. This is the reason that as part of the Taiwan's 4-Year Wind Power Implementation Plan, an additional 652MW of power generation from land and offshore wind power sources is expected to be in place by the year 2020. The mid-to-long-term plan is to achieve cumulative power generation capacity of 4200MW by the year 2025, realizing the vision for energy transformation and a green economy.

As a key energy source for the future, risk management throughout the entire wind power life cycle is essential to ensuring wind farms remain in regular, efficient operating condition. Risk management for offshore wind power projects requires detailed identification of risks and implementation of risk-specific measures for processes such as transportation, geological surveys, construction, and installation involved in ocean wind power projects. Hazards contributing to ocean risks include working at heights, lifting operations, transportation of personnel, flammable materials, pressurized systems, maritime transport, and structural failure, amongst other factors. Safety is key in ocean wind power, and identifying risks and knowledge of risk management systems will maximize production and profit while minimizing unplanned shutdowns.

Offshore wind power policies have been implemented in the hope of stimulating development in three major industries: wind turbine production, maritime construction, and wind farm operations and maintenance. As Taiwan's offshore wind power sector has only recently emerged, issues such as wind power technology, talent, and bank financing pose certain challenges. Since working on an ocean wind farm entails significant risk, the unique work and living environment can have a great impact on the health and safety of those employed. Grueling physical labor, frequent working at heights for prolonged periods, exposure to extreme heat and extreme cold, limited personal space, and significant periods away from one's family can have pronounced impacts on employees' mental and physical health. This is the reason why risk assessment focused on occupational and operational safety are absolute necessities for the welfare of those working on ocean wind farms, including periodic environmental inspections and physical exams.

TUV Rheinland excels in comprehensive life-cycle services within the wind power field, from site selection and design to operation of wind farms. As an increasing number of corporations enter the wind power market across the world, safety considerations related to wind turbines, steel structures, and components will become an important threshold. Certification of wind turbines and related components is conducted upon the basis of the IEC 61400 series and related German standards and guidelines such as the DIBt and GL guidelines. TUV Rheinland offers expert inspections, summation check analyses for land and ocean wind farms, quality and safety certification for wind turbines, and assistance in ensuring safe, highly efficient wind power operations and maintenance. As offshore wind power construction continues to surge in Taiwan, the effective reduction of construction risk holds substantial social and economic significance.

Photo – https://photos.prnasia.com/prnh/20171208/2010910-1
SOURCE TUV Rheinland

Written by Vicky Denton
December 10, 2017

EMAS Offshore Limited: Audited Annual Financial Statements for Financial Year Ended 31 August 2016 »

SINGAPORE, Dec. 8, 2017 /PRNewswire/ —

Please see the attached PDF file for Audited FS FY 2016.

EMAS- Emas Offshore Limited and Sub Aug16 8 Dec 2017


Mr Hsu Chong Pin Chief Financial Officer Email: investor_relations@emasoffshore-cnp.com Tel: +(65)6349-8535 Fax: +(65)6224-9756

This information was brought to you by Cision http://news.cision.comhttp://news.cision.com/emas-offshore-limited/r/audited-annual-financial-statements-for-financial-year-ended-31-august-2016,c2410287

The following files are available for download:




EMAS- Emas Offshore Limited and Sub Aug16 8 Dec 2017

SOURCE EMAS Offshore Limited

Written by Vicky Denton
December 8, 2017

The New Gas Field Discovery in Bohai Is Expected to Provide Quality Clean Energy in the Beijing-Tianjin-Hebei Region »

HONG KONG, Dec. 7, 2017 /PRNewswire/ — CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced that the Company has recently made a mid-sized natural gas field discovery Bozhong 19-6 in Bohai.

Bozhong 19-6 trap is located in the southwest sag of Bozhong south central Bohai, with an average water depth of about 22 meters.

The discovery well Bozhong 19-6-1 is drilled and completed at a depth of 4,181 meters and encountered oil pay zones with a total thickness of approximately 25 meters and gas reservoir with a total thickness of about 348 meters. The evaluation well was tested to produce about 1,000 barrels of oil and 6.4 million cubic feet of natural gas per day.

Mr. Xie Yuhong, Executive Vice President of the Company and General Manager of Exploration Department commented, "The natural gas field discovery of Bozhong 19-6 demonstrates the good prospects of buried hills for future gas exploration of Bohai Bay and lays a solid foundation for Company's quality clean energy supply for Beijing-Tianjin-Hebei region".

– End –

Notes to Editors:More information about the Company is available at http://www.cnoocltd.com.

*** *** *** ***

This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate under the circumstances. However, whether actual results and developments will meet the expectations and predictions of the Company depends on a number of risks and uncertainties which could cause the actual results, performance and financial condition to differ materially from the Company's expectations, including but not limited to those associated with fluctuations in crude oil and natural gas prices, the exploration or development activities, the capital expenditure requirements, the business strategy, whether the transactions entered into by the Group can complete on schedule pursuant to their terms and timetable or at all, the highly competitive nature of the oil and natural gas industries, the foreign operations, environmental liabilities and compliance requirements, and economic and political conditions in the People's Republic of China. For a description of these and other risks and uncertainties, please see the documents the Company files from time to time with the United States Securities and Exchange Commission, including the Annual Report on Form 20-F filed in April of the latest fiscal year.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.

*** *** *** ***

For further enquiries, please contact:

Mr. Yan CaoDeputy General Manager, Investor Relations DepartmentCNOOC LimitedTel: +86-10-8452-1417Fax:+86-10-8452-1441E-mail: caoyan@cnooc.com.cn

Ms. Iris WongHill+Knowlton Strategies AsiaTel: +852-2894 6263Fax:+852-2576 1990E-mail: cnooc@hkstrategies.com

Logo – http://photos.prnasia.com/prnh/20150819/8521505396LOGO

Written by Vicky Denton
December 7, 2017

The Bifaciality of LONGi Solar’s Bifacial PERC Cell Brakes World Record »

BEIJING, Dec. 7, 2017 /PRNewswire/ — The National Center of Supervision and Inspection on Solar Photovoltaic Products Quality (CPVT) issued an independent test report showing that LONGi Solar's bifacial PERC monocrystalline cells achieved a world record bifaciality of 82.15%.

LONGi Solar released its bifacial PERC monocrystalline module (Hi-MO2) at Shanghai SNEC 2017. The goal is to supply modules to meet the growing market demand for higher efficiency products and to the China Top-Runner Programs.

LONGi's Hi-MO2 features high power technology, high-energy yield and low LCOE. For LONGi Solar, Hi-MO2 is synonymous with high efficiency, bifacial power generation, and provides the launch point for the new era of highly efficient, bifacial PERC monocrystalline power generation technology.

Hi-MO2 captures the best features of LONGi's Hi-MO1 technology platform – low-degradation, high-power PERC technology – and combines them with the bifacial technology. In mass production, the efficiency of the front side exceeds 21.2%. Light reception of the backside can bring significantly additional energy yield. If the backside power yield increases the overall module efficiency by 10%, the power of bifacial PERC module can reach 330 watts for 60-cell module (300 watts from the front side), and 396 watts for 72-cell module (360 watts from the front side).

The bifacial PERC modules come with double glass lamination. Combined with low degradation mono PERC technology, Hi-MO2 offers first-year degradation below 2%, and the average annual degradation below 0.45% for 30 years – significantly better than conventional modules. Meanwhile, the adoption of a double-glass improves PID resistance and can extend the module life beyond 30 years.

"Hi-MO2 extends the advantages of monocrystalline PERC to the back side of the module, without increasing costs. Combined with higher power and higher energy yield, Hi-MO2 reduces LCOE and brings more benefits to the PV power plant investors," Li Wenxue, President of LONGi Solar said.

The successful launch of bifacial monocrystalline modules is a testament to the PV market's desire for high-efficiency, high-reliability and high-yield products, and a full recognition of LONGi Solar's constant innovation in monocrystalline PERC cell technology.

The bifaciality of bifacial PERC cells in the market is about 75%, and LONGi Solar's monocrystalline bifacial PERC cell has increased the bifaciality to an industry-leading 82.15%, which has not only enriched the application scenarios of PERC bifacial cells, but also improved cost performance in addition to higher energy yield.

Written by Vicky Denton
December 7, 2017


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