Currently with 160MW solar cell manufacturing capacity, Indosolar is making a major bid to become a leading cell producer in India with a wafer supply deal sealed with GCL-Poly amounting to 815MW at a cost of approximately US$600 million over the next four years. The deal also highlights the rapid growth and industry acceptance of GCL-Poly as a major player, having recently reached a polysilicon production cost of US$25.4/kg in the third quarter of 2010 and wafer sales of 435MW at a manufacturing cost of US$0.58 per watt.
The companies announced at a ceremony that 209 million pieces (equivalent to 815MW) of high-quality wafers would be supplied by GCL-Poly from November 2010 to December 2014. A price adjustment mechanism was also included in the contract terms.
“In particular, India has a large population of almost 1.2 billion with immense market potential,” noted Zhu Gong Shan, chairman and CEO of GCL-Poly. “By signing the contract with our Indian partner, it shows that our customers, especially those from overseas have strong confidence in our product quality, price, economies of scale production and customer service. We hope to develop closer relationship with Indosolar in the future resulting in a win-win situation for both of us in the global fast growing solar industry.”
Located in Greater Noida, Uttar Pradesh, India, Indosolar has plans for its 300,000sq ft facilities, which can accommodate four production lines. The cell manufacturer is planning to increase capacity to 260MW by the end of its 2011 fiscal year.
According to Indosolar, Line C will have the capability to produce both multi- and monocrystalline cells with equipment and processes that have been supplied by Schmid on a turnkey basis.
