|
April 3, 2008
Changzhou,
China: Trina Solar Signs Long Term Polysilicon Supply Agreement
Trina
Solar, a manufacturer of solar photovoltaic products from the
production of ingots, wafers and cells to the assembly of PV modules,
has signed a long-term polysilicon supply agreement with a subsidiary
of GCL Silicon Technology Holdings Ltd.
Under
this agreement, GCL Silicon Technology will supply Trina Solar
with virgin polysilicon sufficient to produce approximately 2,600
MW of solar modules in aggregate over eight years. Delivery of
polysilicon at predetermined prices will start in April of 2008.
“This
agreement represents a key component of our strategy to secure
sufficient feedstock to support our sales growth. Combined with
our other long-term agreements, planned in-house polysilicon production,
and integrated manufacturing cost efficiencies, we believe we
are in a strong position to expand our margins in the long term
as the cost of solar energy approaches grid parity." said Jifan
Gao, Trina Solar's Chairman and Chief Executive Officer. "This
eight-year agreement will provide Trina Solar with a large quantity
of polysilicon at favorable terms with delivery scheduled to commence
this month."
"We
are pleased to become a polysilicon supplier to Trina Solar and
look forward to developing a close relationship with them." said
Hunter Jiang, President of GCL Silicon Technology. "GCL Silicon
Technology intends to expand its polysilicon production capacity
to meet the growing demands of customers like Trina Solar.”
This
long-term polysilicon supply agreement will enhance the Company’s
raw material supplies and increase its cost structure visibility
to strengthen its position as a leading global PV manufacturer.
After signing this agreement and together with other polysilicon
supply agreements, the Company has now secured approximately 95%
of its estimated silicon feedstock requirements for 2008, an equivalent
of approximately 195 MW based on a production target of 200 to
210 MW of module output.
Further details about: Trina
Solar
|
