China Sunergy is to supply Canadian Solar with a total volume of 25MW
of solar cells for 2008. Under the Agreements, China Sunergy will
supply approximately 12MW and 13MW of solar cells to Canadian Solar in
the first and second half of the year respectively.
“We are pleased to have added China Sunergy to our list of partners,
thus continuing to demonstrate the ability of CSI to establish win-win
relationships with companies in the solar value chain,” said Dr. Shawn
Qu, CEO of Canadian Solar. “This announcement provides further
visibility to the supply contracts we already had in place in support
of our 2008 business plan. We look forward to working closely with
China Sunergy as a part of our long-term supply chain strategy, which
includes continued direct purchasing from a selected number of
long-term strategic cell suppliers in addition to our internal solar
cell production.”
Approximately 24 percent of the volume is
being based on fixed pricing terms and the remainder being determined
on a quarterly basis.