|
September 2, 2008
Wuxi,
China: Suntech Signs Second Polysilicon Supply Agreement with
DC Chemical
Suntech
Power has signed a definitive seven-year polysilicon supply agreement
with DC Chemical Co. Ltd., a leading multinational chemicals producer
headquartered in Seoul, South Korea. Under the terms of the agreement,
DC Chemical will supply Suntech specified annual volumes of polysilicon
with a total value of approximately $750 million from 2010 to
2016.
The
agreement follows Suntech’s March 2008 announcement of an eight-year
polysilicon supply agreement with DC Chemical, which provided
for the delivery of polysilicon to Suntech with a total value
of approximately $631 million from 2009 to 2016.
Dr.
Zhengrong Shi, Suntech’s Chairman and Chief Executive Officer,
stated, “We are pleased to expand our existing relationship with
DC Chemical, a key upstream partner and an emerging market leader.
Contracts such as these are key to securing long-term polysilicon
supply at prices that are compatible with grid parity and are
indicative of our belief that solar energy will become a cost
effective alternative to fossil fuels.”
Further details about: Suntech
Power and DC Chemical
|
