SolarWorld Signs Indian Wafer Contracts

A ten-year contract for delivery of crystalline silicon wafers has been signed between SolarWorld AG and Solar Semiconductor Pvt. Ltd. from India. With a total volume of over EUR 750 million [US $1.175 billion], this latest contract gives the SolarWorld Group a long-term external volume of orders of more than EUR 6 billion [US $9.4 billion] in wafer sales through the year 2018.

“With the new wafer contract we are securing the capacity utilization of the new [1 gigawatt] production facility in Freiberg in Saxony,” said Frank Asbeck, chairman and CEO of SolarWorld AG.

Construction work for the new wafer factory is due to begin in July. It is planned to increase the present production capacity at the Freiberg location from 500 megawatts (MW) to 750 MW until the end of the year 2009. In 2010 another 250 MW are to follow.

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