Suntech & DC Chemical Sign Polysilicon Deal

Suntech Power Holdings Co. Ltd. announced that it has signed a seven-year polysilicon supply agreement with DC Chemical Co. Ltd. Under the terms of the agreement, DC Chemical will supply Suntech with specified annual volumes of polysilicon with a total value of approximately US $750 million from 2010 to 2016.

The agreement follows Suntech’s March 2008 announcement of an eight-year polysilicon supply agreement with DC Chemical, which provided for the delivery of polysilicon to Suntech with a total value of approximately US $631 million from 2009 to 2016.

“We are pleased to expand our existing relationship with DC Chemical, a key upstream partner and an emerging market leader. Contracts such as these are key to securing long-term polysilicon supply at prices that are compatible with grid parity and are indicative of our belief that solar energy will become a cost effective alternative to fossil fuels,” said Dr. Zhengrong Shi, Suntech’s chairman and CEO.

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