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Italian module manufacturer Helios Technology SpA lost an arbitration appeal in Italy that could result in a payment of approximately US$35.2 million by its majority shareholder, Aion Renewables SpA to LDK Solar.
The ‘take or pay’ solar wafer supply deal was signed in October, 2008 when both polysilicon and solar wafers were in short supply.
Helios said that it was waiting for the written judgment before a potential appeal is registered.
