China Sunergy Co. Ltd., a specialized solar cell manufacturer based in Nanjing, China, has entered into a wafer purchase agreement and a solar cell sales agreement with a U.S.-based photovoltaic products firm.
Pursuant to the terms of the agreements, China Sunergy will utilize the multisilicon wafers purchased from the firm to produce multisilicon solar cells, which will then be sold back to the firm for incorporation into its downstream solar products. Based on the forecast provided by the U.S. based manufacturer, a total of 20 MW to 25 MW of solar cells will be supplied by China Sunergy throughout 2009.
The agreements may be replaced by an original equipment manufacturer (OEM) tolling agreement between China Sunergy and the manufacturer, which is expected to come into force in April 2009. The parties expect that the OEM tolling agreement would not alter the basis of the purchasing and sales terms currently outlined in the existing contracts.
SOURCE: China Sunergy Co. Ltd.