Dec 24 2010
Solarfun Power Holdings Co., Ltd. ("Solarfun" or the "Company") (Nasdaq: SOLF), a vertically integrated manufacturer of silicon ingots, wafers and photovoltaic ("PV") cells and modules in China, today announced that it has signed a long-term supplementary wafer and polysilicon product supply contract with GCL-Poly Energy Holdings Limited (3800.HK) ("GCL-Poly").
GCL-Poly will provide Solarfun with a total of 2,500 MW wafer and polysilicon products over the next five years.
Under the supplementary wafer and polysilicon product supply contract between Solarfun and GCL (Suzhou) Solar Energy Technology Company Limited, a subsidiary of GCL-Poly, GCL-Poly will provide a total of 2,500 MW wafer and polysilicon products from January 2011 to December 2015 to Solarfun. A price adjustment mechanism is included in the contract.
"By signing this long-term supplementary wafer and polysilicon contract with GCL-Poly, we are further strengthening the long-term strategic collaboration between both parties," said Mr. Peter Xie, President and Chief Executive Officer of Solarfun. "We expect this to satisfy our requirements for key raw materials on a cost-effective basis, and allow us to continue expanding in scale as we meet our growing customer needs worldwide."
Mr. Shu Hua, Executive Director and Executive President of GCL-Poly, added, "We are pleased to maintain our close strategic collaboration with Solarfun, one of the world's leading solar companies. We will provide high quality services to support Solarfun's rapid development. We look forward to achieving a win-win situation with Solarfun in the global solar industry."
Source: http://www.solarfun-power.com/