Suntech Power Holdings Co. Ltd. and Nitol Solar Ltd. have expanded the terms of their existing seven-year polysilicon supply agreement, which runs from 2009 to 2015. Under the expanded agreement, Nitol has agreed to substantially increase the aggregate committed volumes to be supplied between 2009 and 2015.
‘The expansion of our supply relationship with Nitol Solar further improves our long-term silicon outlook and provides a robust base to rapidly grow our business,’ says Zhengrong Shi, Suntech's chairman and CEO. ‘We believe that this favorably priced silicon will accelerate our path to grid parity, and we are confident that this will drive enormous demand for solar power systems – regardless of the subsidy environment.’
