China Sunergy taps REC Wafer for seven-year wafer supply

China
Sunergy has signed a wafer supply agreement with REC Wafer for supply
of monocrystalline 156mm wafers over a seven-year period from early
2009 to 2015. The agreement will see China Sunergy pay in excess of
$400 million for the wafers, the amount and price of which are fixed
according to the wafer thickness and year of shipment.

The company has decided to partner with this new supplier to lessen its reliance on the spot market, thus enhancing cost savings in production.