Neo Solar Power (NSP), the largest merchant solar cell producer, has struck a major supply deal with leading PV energy provider, Canadian Solar for 2015.
NSP said in a financial filing that is had signed a 400MW solar cell supply agreement with Canadian Solar, just for 2015.
PV Tech recently reported that Canadian Solar has guided PV module shipments of between 2.73GW to 2.78GW in 2014, equating to a shipment growth rate of between 45% and 48%.
The company has plans to expand PV module capacity to at least 3.5GW in 2015, up from 3GW in 2014 to meet demand from customers and its growing PV project pipeline.
However, to keep capital expenditures down on solar cell capacity expansions the company only expanded solar cell production by 400MW in 2014, primarily through a joint venture with GCL-Poly, to reach a capacity of around 1.9GW.
However, Canadian Solar has also said it would expand and upgrade solar cell production at its plants in Changshu and Luoyang, China in 2015 by 500MW.
The deal with NSP would close the gap between its nameplate module capacity and cell capacity in 2015 and debunks recent reports that China-based manufacturers were abandoning Taiwanese suppliers.