SolarWorld in Big Supply Deal
SolarWorld Group signs new wafer deal for more than 180 million Euros
Term of twelve years
Deutsche Solar AG, a subsidiary of SolarWorld AG and one of the world’s largest manufacturers of silicon wafers for solar applications, has signed another long-term delivery contract. The customer is the Canadian company Canadian Solar Inc. (CSI), an international manufacturer of solar power modules, which operates production facilities in China. The order has a value of 180 million euros. The contract comes into effect immediately and runs for a twelve year period. The two companies have had successful business relations for two years now.
“The new contract with CSI underscores the importance of long-term external contracts for our wafer business,” says Dipl.-Ing. Frank H. Asbeck, Chairman of the Management Board of SolarWorld AG. “Our long-term strategic goal is to sell 50 per cent of the wafers made by Deutsche Solar AG to external customers. The other 50 per cent are to remain within the integrated production of our Group, ending up in complete solar power systems and kits. This additional contract brings the total of long-term orders for our international customers to about 2.5 billion euros. These are long-term export contracts which safeguard jobs in Germany and underline the leading role that Germany plays in the development of renewables. Our agreements are an example of the fact that the ‘green’ industry in Germany is well on the way to becoming another export heavyweight, ultimately taking its place alongside the automotive industry.”
Dr. Shawn Qu, Chairman and CEO of CSI, said, “Deutsche Solar AG is one of the biggest solar wafer companies in the world. Being able to secure the wafer supply contract will help enhance our ability to grow and to provide affordable, quality solar products to customers worldwide. This new contract further solidifies our long-term, mutually beneficial relationship.”
About SolarWorld AG: The SolarWorld AG Group (ISIN: DE00051080401) is among the three largest solar power companies in the world. The group is dedicated exclusively to the core business of solar energy, combining all stages of the solar value chain, from the raw material silicon to turn-key solar power plants. The company operates production facilities in Germany, Sweden and the USA. In the United States, SolarWorld AG is also the leading producer and provider of solar power technology. In addition, sales offices operate in Spain, South Africa and Singapore, completing the international alignment of the group. The responsibilities of the two latter offices include the sale of rural solar power solutions that make an important contribution to the sustainable economic development of the southern hemisphere.
In Freiberg, Saxony, the group operates the world's most advanced integrated solar production facilities where the SolarWorld Group turns solar grade silicon into high quality solar wafers, solar cells and solar modules. SolarWorld AG offers a diverse range of products from modules for grid-coupled and grid-independent power generation all the way to a whole class of complete solar power systems for decentralized and centralized electricity generation. After the IPO at the end of 1999, the company developed within a few years to a fully integrated solar technology group, increasing its workforce to more than 1,300 employees. SolarWorld AG is listed at the stock exchange in the technology index TecDAX, in the Dow Jones STOXX 600 as well as the international MSCI index, among others.
About Canadian Solar Inc.: Founded in 2001, Canadian Solar Inc. (CSI) is a standard solar module and specialty solar module and product company, serving customers located in various markets worldwide. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information visit www.csisolar.com.
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