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MEMC Electronic Materials has entered into a 10-year definitive agreement valued at between $7 and $8 billion to supply solar grade silicon wafers to Conergy at pre-determined prices. The supply deal will start in the third quarter of 2008, MEMC said.
"Conergy is the largest installer of photovoltaic systems in the world, and we are pleased with the prospect of helping them expand their leadership position in the marketplace,” stated Nabeel Gareeb, MEMC's Chief Executive Officer. “We feel confident that MEMC's nearly fifty years of wafer making experience will prove instrumental in allowing both companies to win in the solar space."
Hans-Martin Ruter, Conergy's Chief Executive Officer, said, "Conergy continues to grow
its global brand by focusing on the needs of the customer. This agreement with an efficient industry leader like MEMC will play an important role as we continue to increase our scale and enhance the total value proposition for our customers. Together, MEMC and Conergy can expand our positions in our respective markets while supporting and enabling the growing demand for solar energy worldwide."
