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Canadian Solar, GCL ink long-term supply deal

Posted: 05 Sep 2008 ?? ?Print Version ?Bookmark and Share

Keywords:solar supply agreement? solar cell? polysilicon wafer?

Canadian Solar Inc. (CSI) and GCL Silicon Technology Holdings Inc. have signed new long-term supply agreements in which GCL will supply 510MT of high-purity polysilicon feedstock in 2008 and 2009 and approximately 1.8GW of wafers to CSI from 2010 to 2015.

Shawn Qu, chairman and CEO of CSI, commented, "These two contracts help us to further secure our supply chain with strong suppliers at favorable long-term contract prices. The competitive pricing for these recently signed contracts demonstrates that our high growth and balanced supply strategy coupled with our strong supplier relationships are paying off with lower materials costs going forward. We expect this trend to continue with an improved supply environment in 2009 and beyond.

"CSI is one of the world leaders in the solar cell and module producing space, with a strong reputation for superior quality and product innovation," said GCL CEO Hunter Jiang. "We view CSI as an important strategic partner and look forward to developing a close relationship with them and are committed to expanding our polysilicon and wafer production capacity to meet the growing demands of customers such as CSI."

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