MEMC Electronic Materials Inc. and Gintech Energy Corp. of Taiwan have executed an amendment to their existing definitive agreement for MEMC to supply solar-grade silicon wafers to Gintech.
Under the terms of the amendment, MEMC will supply additional solar wafers to Gintech over the 10-year contract period, with incremental predetermined pricing on a take-or-pay basis, beginning in 2008. Sales of the additional wafers over the 10-year period would generate approximately $700 million to $800 million in incremental revenue for MEMC.
"Gintech continues to grow its capacity and aims to play a major role in serving the globe with sustainable and clean energy," says Ellick Liao, Gintech's president." MEMC wafers are a critical ingredient for success in that process, and we are pleased to expand our relationship with MEMC."