LDK Solar Co. Ltd., a manufacturer of multicrystalline solar wafers, has signed a 10-year take-or-pay contract to supply multicrystalline wafers and polysilicon to Germany-based Q-Cells AG.
Under the terms of the agreement, LDK Solar will deliver more than 6 GW of multicrystalline solar wafers to Q-Cells over a 10-year period commencing in 2009 through 2018. LDK will use polysilicon from its polysilicon plant that is currently under construction, or other sources. Q-Cells shall make prepayments in the order of 10% of the silicon value to assist LDK with financing the expansion required to supply these volumes. Additionally, Q-Cells has the option to purchase further silicon wafers if LDK expands its production capacity.
‘LDK has been a highly reliable partner, and we are pleased to deepen our business relationship with the company,’ states Anton Milner, CEO of Q-Cells AG. ‘This 10-year contract with LDK ensures that we will continue to receive their high-quality multicrystalline wafers in support of our growth plans.’