LDK Solar Signs Eight-Year Wafer Supply Agreement With Sumitomo Corporation
LDK Solar Co., Ltd. (“LDK Solar”), a leading manufacturer of solar wafers, announced today that it has signed an eight-year contract with Japan- based Sumitomo Corporation (“SC”), one of the leading trading and investment houses in Japan to supply multicrystalline solar wafers to a leading manufacturer of solar cells and modules in Japan.
Under terms of the agreement, LDK Solar will deliver approximately 750 MW of multicrystalline silicon wafers to Sumitomo over an eight-year period, commencing in 2009 and extending through 2016. Sumitomo will make an advanced payment representing a portion of the contract value to LDK Solar.
“We are excited to announce this agreement with Sumitomo to supply high- quality wafers to Japan’s leading manufacturer of solar modules,” Xiaofeng Peng, Chairman and CEO of LDK Solar. “For LDK Solar, this supply contract with another industry leader, signifies another step towards our goal of becoming the leading supplier of wafers worldwide.”
Source: LDK Solar Co., Ltd.
[...] LDK Solar announced that it has signed an 8-year contract to supply multi-crystalline solar wafers to Japanese trading house Sumitomo. Over the 8 year period starting in 2009, LDK will deliver 750 MW of the wafers to Sumitomo. The contract will end in 2016, and Sumitomo has agreed to make an advance payment for part of the contract’s value to LDK. [...]