Canadian Solar (CSIQ) Signs 800MW Wafer Supply Agreement With LDK Solar (LDK)
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Canadian Solar (Nasdaq: CSIQ) announced it signed a ten-year supply contract with LDK Solar (NYSE: LDK). LDK has been a key supplier to CSI since summer of 2006. This new ten-year supply contract is in addition to the three-year supply contract signed between CSI and LDK in October 2007. LDK expects to begin the ramp up of its in-house polysilicon manufacturing project in the second half of 2008.
Under the terms of the new agreement, LDK will supply an additional 800 megawatts (MW) of solar wafers to CSI through 2018. Delivery under the new agreement is expected to start in July 2009, with approximately 40MW being shipped in 2009 and approximately 80MW annually in 2010 and beyond. This will bring total contracted wafer deliveries from LDK to CSI to 120MW in 2009 and 170MW in 2010, respectively.
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline and mono-crystalline solar wafers, which are the principal raw material used to produce solar cells.
Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving customers worldwide.
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