LDK Solar has signed a 10-year ‘Take or Pay’ contract to supply multicrystalline wafers and polysilicon with major PV manufacturer Q-Cells AG. LDK Solar will deliver more than 6 gigawatts of multicrystalline solar wafers to Q-Cells over a ten-year period commencing in 2009 through 2018, the company said.
“LDK has been a highly reliable partner and we are pleased to deepen our business relationship with the company,” stated Anton Milner, CEO of Q-Cells AG. “This 10-year contract with LDK ensures that we will continue to receive their high-quality multicrystalline wafers in support of our growth plans.”
Under the terms of the agreement Q-Cells is expected to make pre-payments in the order of 10 percent of the silicon value to assist LDK with financing the expansion of its polysilicon plant currently under construction, as well as an option to purchase more silicon wafers should LDK expand capacity further in the future.