LDK Solar Signs $224 M Supply Agreement with Solartech Energy

Multicrystalline solar wafer manufacturer, LDK Solar Co., Ltd. announced yesterday that it has signed a five-year supply contract with Taiwan-based Solartech Energy Corp.

Under the terms of the agreement, pricing is fixed for the first three years. During this period, LDK Solar will deliver multicrystalline solar wafers to Solartech valued at approximately US$224 million with initial delivery commencing in 2008.

“This agreement enables us to secure a significant amount of LDK Solar’s high-quality wafers as we rapidly increase our production capacity. Solartech plans to double its capacity to 60 MW in November 2007 and to add 50 MW annually over the next two years to reach an annual production capacity of 160 MW in 2009,” stated Charles C. Chang, President of Solartech.

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