Having announced plans last November to expand solar wafer capacity to 1GW in 2010, ReneSola has backed this up with a new supply agreement to provide 600MW of solar modules to an unidentified but described as a ‘major global solar company.’ The new contract calls for ReneSola to provide 200MW of solar modules annually for three years with shipments starting in 2010. This is ReneSola’s first major OEM contract.
“Our first major solar module OEM contract reflects the exceptional value inherent in our cost-competitive solar wafer and solar module OEM manufacturing platform,” said ReneSola’s Chief Executive Officer Li Xianshou. “Our customers are increasingly recognizing the benefits of including our cost-effective solar solutions as important components in their production processes. We plan to leverage our module OEM capabilities to significantly strengthen and expand customer relationships with key industry players and further increase our solar wafer sales. We believe this OEM deal underscores our vision to lead the world in solar wafer production.”
RenaSola reported record wafer shipments in its third quarter financial results last November and Wafer shipment guided wafer shipments to reach between 490-520MW for 2009.