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China Sunergy, HHT ink silicon ingot supply pact

Posted: 28 Oct 2008 ?? ?Print Version ?Bookmark and Share

Keywords:silicon ingot pact? solar cell?

China Sunergy Co. Ltd, a solar cell manufacturer based in Nanjing, China, has entered into a multiyear agreement for a supply of high quality 8-inch single crystal silicon ingot with the Japan's Hitachi High-Technologies Corp. (HHT) and its affiliate. Under the agreement, HHT will supply a total volume of 1,472 tons of silicon ingot from September 2008 through the end of 2011, which will support the production of approximately 210MW of solar cells during the contractual term.

Shipment of silicon ingots began in September and will continue through the end of 2011. While the pricing has been fixed for the 2008 shipments, China Sunergy and HHT will negotiate the ongoing price of silicon ingot every three months beginning in 2009, within a predetermined pricing range.

"This long-term partnership with a respected supplier such as HHT allows us to reduce our reliance on obtaining silicon material supplies from the volatile spot market," commented Allen Wang, CEO of China Sunergy. "In addition to the high quality silicon ingot improving our yields and output, I believe there are cost savings to be recognized from this deal which will contribute to the long-term goal of strengthening our gross margin. We will continue to seek additional agreements with partners like HHT, as they will benefit China Sunergy by providing a reliable source of silicon through a flexible, favorable cost structure."

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