Your daily dose of Photovoltaic Technology Developments and Solar News

Username    Password    Remember me    Forgot password? |  Subscribe

REC wins €500 million wafer supply deal with Solland Solar

12 December 2007 | Materials: News
Renewable Energy Corp.As part of Solland Solar Cells’ planned capacity ramps, the crystalline silicon cell producer has secured a new and extended multi-crystalline silicon wafer supply deal with Renewable Energy Corp (REC) that runs through 2015 and is worth approximately €500 million to the company. The agreement is structured as a take-and-pay contract with pre-determined prices and volumes for the entire contract period.
 
"We have had a supply relationship with Solland since they started their production in 2005 and are very encouraged by this opportunity to extend our relationship and contribute to Sollands ambitious growth plans", says Ingelise Arntsen, Executive Vice President, REC Wafer.

Solland Solar, started production in 2005 with a target of 60MWp production capacity in 2007, and a 170MWp target in 2008. By 2010, Solland Solar is targeting production to reach 500MWp. 

The supply contract replaces and extends REC's existing supply relationship with Solland. Deliveries of wafers under the new agreement will increase over time, and will level out at around 80MWp per year. Prices and commercial terms are in line with contracts signed in the second half of 2006 and earlier this year.
Reader Comments
No comments yet!
Add your comment
Your name:
Your email: Not to worry, email address will not be published.
Please enter the word you see in the image below (or click the speaker icon to hear it):
 Click here to hear the word