Hanergy reveals master supply agreement on thin-film products

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Hanergy Thin Film Power (HTF) has revealed for the first time the planned thin-film product supply deals signed with Hanergy Group through 2017 for its downstream project business plans.

HTF said that Hanergy Group’s master supply agreement to purchase PV modules in each financial year from 2015 to the financial year of 2017 included 1.5GW of a-Si/Si-Ge based thin-film modules. 

HTF has been shipping, installing and qualifying equipment and automation systems for Hanergy Group in respect to its first two a-Si production plants through 2014. 

Hanergy Group is also planning to purchase 70MW of flexible CIGS thin-film modules and 80MW of conventional glass/glass CIGS thin-film modules under the master supply agreement. 

Other contracts also include 5,300,000 square metres of BIPV thin-film modules, assumed to be a-Si based technology. Hanergy Group is also planning to purchase 110MW of nc-Si thin-film modules. 

The pricing structures, said to have been undertaken ‘after arms length negotiation’ are highly cost competitive. 
The purchase price for a-Si/Si-Ge based thin-film modules was set at ‘no more’ than RMB3.3/W (US$0.53/W). Flex CIGS modules were priced at RMB4.1/W (US$0.66/W) and conventional CIGS modules at RMB3.76/W (US$0.60/W). 

The pricing in respect to nc-Si thin-film modules was set at no more than RMB3.6/W (US$0.58/W). The pricing on BIPV thin-film panels was set at RMB1,300 per square metre (US$207.91 per square metre). 

However, payment terms are not being handled purely on a shipment basis such as FOB (Free on Board), instead the master agreement calls for 30% of the payment payable within 10 business days upon the execution of the relevant ‘Supply Sub-Contract,’ followed by a 20% of the payment payable within five business days upon the approval by the Hanergy Group of the placement of the purchase order. 

A further 45% payment would be due within 30 business days upon the delivery of the modules, leaving a 5% payment payable within five business days following the one year anniversary of the delivery date or after the Hanergy Group has issued warranty certificates in respect of the delivered solar energy panels, whichever is earlier.

Annual caps on payments would also be used by Hanergy Group, which include HK$15,914.3 million (US$2.05 billion) in 2015 and subsequent years of the master supply agreement.

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