Deutsche Solar enters into new polysilicon contract with DC Chemical

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Deutsche Solar AG, a wholly owned subsidiary of SolarWorld AG, has entered into a new polysilicon contract with DC Chemical, valued at $580 million through 2016. The polysilicon deal ensures the ability of the company to meet new solar wafer contracts worth $350 million from customers in Germany and China, the company said.

“We are aiming to increase our order book to ten billion US dollars by the end of 2008,” commented Frank H. Asbeck, CEO of SolarWorld AG.

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SolarWorld and Deutsche Solar are also expanding production via the construction of a new plant in Freiberg, Germany. Wafer production stood at 270 MW at the end of 2007, reaching 1GW in 2010. Capital expenditure for 2008 is approximately $520 million.

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