Hoku Materials Inc., a wholly owned subsidiary of Hoku Scientific Inc., and Solargiga Energy Holdings Ltd. subsidiary Wealthy Rise International Ltd. have signed a definitive contract for Hoku's sale and delivery of polysilicon to Solargiga over a 10-year period beginning in early 2010.
According to the contract, up to approximately $455 million may be payable to Hoku during the period, subject to product deliveries and other conditions. The contract provides for the delivery of predetermined volumes of polysilicon each year, with the first shipment in the first quarter of 2010 and the remainder over a 10-year period at set prices that will decline throughout the term of the agreement.
SOURCE: Hoku Scientific
