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Canadian Solar, Neo Solar ink $500M supply agreement

Posted: 10 Jun 2008 ?? ?Print Version ?Bookmark and Share

Keywords:solar cell? solar cell supply agreement? solar module?

Canadian Solar Inc., a solar module manufacturer has signed a five-year supply contract worth over $500 million with solar cell manufacturer Neo Solar Power (NSP).

Under the terms of the new agreement, NSP will supply several hundred megawatts of solar cells through 2013. NSP has been a stable supplier to CSI since March 2007.

"We are pleased to extend our existing cooperation by entering into a long-term partnership with CSI to support its rapid business expansion in coming years," said Quincy Lin, chairman and CEO of NSP. "The confluence of NSP's strength in cell quality and manufacturing efficiency and CSI's solid channel relations with solar system providers, will allow us to deliver an integrated and effective solution in the photovoltaic value chain."

Shawn Qu, chairman and CEO of CSI concurred. "This agreement will help us ensure continued growth over the next five years and is testament to our ability to establish and secure relationships with strategic suppliers across the solar value chain," he said. "NSP has been an invaluable supplier to CSI and will be a key partner for us in the execution of our flexible vertical integration model and balanced supply strategy in the future."

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