Suntech Power Holdings Co. Ltd., a manufacturer of photovoltaic cells and modules, has signed a definitive eight-year polysilicon supply agreement with DC Chemical Co. Ltd., a multinational chemicals producer headquartered in Seoul, South Korea.
Under the terms of the agreement, DC Chemical will supply Suntech specified annual volumes of polysilicon with a total value of approximately $631 million from 2009 to 2016, the companies state.
‘We highly respect DC Chemical's ability to rapidly develop commercial-scale production of polysilicon and contribute to the growth of the solar industry,’ states Dr. Zhengrong Shi, Suntech's chairman and CEO. ‘Partnering with DC Chemical for high-quality polysilicon will help to expand Suntech's relationship with companies in the South Korean solar industry as well as building our long-term supply pipeline and accelerating our path to grid parity solar.’
