LDK Solar Signs a Ten-Year Wafer Supply Agreement With Photovoltech

Xinyu City, China and Sunnyvale, USA - LDK Solar Co., Ltd., a manufacturer of multicrystalline solar wafers, announced that it has signed a ten-year contract to supply multicrystalline solar wafers to Belgium-based Photovoltech.

Under the terms of the agreement, LDK Solar will deliver approximately 400 MW of multicrystalline silicon solar wafers to Photovoltech over a ten-year period commencing in 2009 through 2018. Photovoltech will make a down payment representing a portion of the contract value to LDK Solar.

"We are very pleased to enter into this long-term agreement with Photovoltech," stated Xiaofeng Peng, Chairman and CEO. "This most recent supply contract further displays the strong demand for our wafers and also enables us to continue expanding our presence in Europe."

"As we work to achieve our capacity expansion and growth goals to meet the increasing demands of the photovoltaic market in the coming years, we are very pleased to have LDK Solar as a long-term partner and look forward to their supply, in order to secure an important part of our wafer needs," commented Johan Nijs, General Manager of Photovoltech.

Source: IWR Online, 17 Jul 2008