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September 30, 2009
Changzhou,
China: Trina Solar Extends Long-Term Polysilicon Supply Agreement
Trina
Solar has extended its eight year long-term supply agreement with
Jiangsu Zhongneng Polysilicon Technology Development Co. Ltd,
a subsidiary of GCL-Poly Energy Holdings Limited by another five
years. Initial delivery of polysilicon to Trina Solar started
in April 2008.
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 high-quality polysilicon and wafers sufficient
to produce approximately 8,500 MW 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, Trina Solar's Chairman and CEO. "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 Mr. 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."
Further details about: Trina
Solar and GCL-Poly Energy
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