MEMC & Tainergy Announce US $3 Billion Wafer Supply Deal

MEMC Electronic Materials Inc. and Taiwan’s solar cell manufacturer Tainergy Tech Co. Ltd. have entered into a solar wafer supply agreement. The contract is expected to generate between US $3-3.5 billion in revenue for MEMC over a 10-year period.

Under the terms of the deal, MEMC will supply solar wafers to Tainergy over 10 years, with pre-determined pricing, on a take-or-pay basis beginning in the third quarter of 2008. Tainergy will advance funds to MEMC in the form of a refundable capacity reservation deposit. In addition, MEMC will be eligible to purchase a 10% interest in Tainergy.

“A secure supply of high quality wafers from MEMC will increase our ability to achieve the fast growth and market share gains that we strive for, while providing high quality solar cells to our customers at competitive prices,” said Frank Hsieh, chairman of Tainergy.

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