Conergy AG says it will begin legal action against MEMC Inc. to contest a 10-year solar wafer supply contract. Under the contract, which was signed in late 2007, MEMC agreed to supply solar wafers to Conergy's Frankfurt, Germany, plant.
According to Conergy, the basis for its legal action is a number of invalid and, in particular, anti-competitive contractual provisions, which the company believes render invalid the entire contract.
In an effort to reach an out-of-court solution, Conergy initiated talks with MEMC at the beginning of this year. These talks led to an agreement on the financial conditions of the future cooperation, but the conversations stalled due to various auxiliary conditions. Consequently, Conergy plans to file for the invalidity of the contract by declaratory judgment in New York.
SOURCE: Conergy AG