GT Solar Signs $171 M Deal with Chinese Solar Manufacturer

GT Solar Inc., one of the major providers of manufacturing equipment and turnkey manufacturing solutions to the photovoltaic (PV) industry, announced yesterday that it has signed a $171 million contract with Glory Silicon Energy Co., Ltd., of JiangSu, China for GT’s new DSS450 furnaces for the production of multi-crystalline silicon ingots.

The contract is the largest single DSS furnace contract in GT Solar’s history and will include deliveries over the next two years. The order will equip what is projected to be one of the largest wafer factories in the world – about 1,500 MW of annual production capacity.

 “Glory Silicon Energy Co. will be a major player in the growth of the global solar industry,” said GT Solar President and CEO, Thomas Zarrella. “Glory’s order for our DSS450 furnaces over the next two years is one more indication of the significant growth of the solar industry in China.”

The DSS450 (Directional Solidification System) furnace is new to GT Solar’s equipment line. It is similar to the DSS240, but can grow larger silicon ingots than GT’s DSS240 furnace, with an average ingot weight of 400kg (or customized up to 450kg), and can deliver 30% more output than GT’s DSS240 furnace.

“We have turned to GT Solar for its DSS450 furnaces because they are the most technologically advanced on the market today. We look forward to using GT’s equipment to produce quality solar wafers for the growing solar marketplace worldwide,” added Glory Silicon Energy Co., Ltd. President, Wang LuBao.

Glory Silicon Energy Co., Ltd. is a newly established company with its production facility in the city of Yangzhong in the Chinese province of Jiangsu. It was founded by various investors, including the Huantai Corporation. Huantai was one of the first Chinese businesses to get into the production of solar wafers.

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