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Trina Solar, GCL-Poly extend solar supply deal

Posted: 05 Oct 2009 ?? ?Print Version ?Bookmark and Share

Keywords:Trina Solar supply deal? photovoltaic? solar module?

Trina Solar Ltd announced that it has extended its long-term supply agreement with Jiangsu Zhongneng Polysilicon Technology Development Co. Ltd (GCL-Poly), a subsidiary of GCL-Poly Energy Holdings Ltd. The initial eight-year agreement called for initial delivery of polysilicon to Trina Solar in April 2008. The extension is for five years beginning 2016. Trina is an integrated manufacturer of solar photovoltaic (PV) products, including ingots, wafers, cells and assembled PV modules.

Under the adjusted terms of this agreement, the total consideration will remain unchanged from the combined total of the original and supplemental agreements signed in 2008, whereas additional polysilicon and wafer deliveries will be provided starting in 2016 for a five-year period at pre-determined shipment volumes and prices. The agreement also contains a price adjustment clause that offers a market-linked price formula. GCL-Poly will supply the company with polysilicon and wafers sufficient to produce approximately 8,500MW of solar modules over 13 years. Wafer deliveries to commence in 2010 are expected to support production above the company's in-house integrated manufacturing capabilities to address growing customer demand.

"We are very pleased to strengthen our long-term relationship with GCL-Poly by further extending the tenure of the agreement," said Jifan Gao, chairman and CEO of Trina Solar. "This extension will provide a stable source of high-quality materials as well as support our cost reduction initiatives to solidify our position as a high-quality global integrated PV manufacturer."

"We are pleased to extend our business relationship with Trina Solar whom we value as a strategic long-term customer," said Zhu Gong Shan, executive director, chairman and CEO of GCL-Poly. "We look forward to continue delivering high-quality polysilicon and wafers on schedule through 2020."

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