Seoul, South Korea [RenewableEnergyWorld.com] Global Expertise Wafer Division Ltd., a subsidiary of Solar-Fabrik AG announced the signing of a US $120.7 million wafer raw material contract with South Korean based Smart Applications Co. Ltd.
The agreement will see the delivery of 156-milimeter (mm) monocrystalline wafers to the Solar-Fabrik Group over a period of 6 years starting in January, 2009. The contract includes increasing volumes with a significant annual reduction of prices, Solar Fabrik said.
Solar-Fabrik estimates that the resulting turnover potential based on this contract will be around US $16 million already in 2009. Smart Applications said that its solar wafer production capacity will reach 80 megawatts (MW) by the end of 2008 and further to 150 MW until 2010, backed up by its polysilicon supply contracts.