Canadian Solar Signs Wafer Supply Contracts

Canadian Solar Inc. (CSI), a vertically integrated manufacturer of solar cells, solar modules and solar application products, has signed solar wafer supply contracts with four suppliers, including Jiangsu Shunda Group Corp.

Under the contracts, these suppliers will deliver approximately 12 MW of wafers to CSI before this summer. Delivery of wafers to CSI under the new contracts commenced in January.

In addition, CSI says it has signed a multi-year supply contract with Shunda, which gives CSI the option of two fixed prepayments in late 2008 and 2010 for wafer supplies through 2015 at predetermined prices and schedules. If fully executed, the contract is expected to provide more than 700 MW of wafers over the eight-year period.

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