Jiangsu Company To Supply Polysilicon And Wafers To Suntech

Xuzhou, Jiangsu based GCL Silicon Technology Holdings Inc is to supply Suntech Power Holdings Co., Ltd. a manufacturer of photovoltaic cells and modules, with 9,420 metric tonnes of polysilicon and 1.1 gigawatt of silicon wafers from 2008 to 2012.

Dr. Zhengrong Shi of Suntech stated that the agreements with GCL Silicon will greatly strengthen Suntech's silicon pipeline and support their capacity and production expansion over the next five years. He added that with steeply declining cost curves, these agreements are in line with their strategy to quickly reach grid parity and extend their position as a leading global provider of solar products. With the addition of these agreements, Suntech has now secured approximately 1GW of silicon for 2009.

Hunter Jiang, president of GCL Silicon, said that GCL Silicon was pleased to become a polysilicon and wafer supplier to Suntech and GCL view Suntech as an important strategic partner and a leading solar cell and module manufacturer. He added that he looked forward to developing a close relationship with Suntech and were committed to expanding their polysilicon and wafer production capacity to meet the growing demands of customers such as Suntech.

Suntech recently signed over 200MW of fixed price, fixed volume sales contracts for 2009 and targets to finalize approximately 500MW of additional sales contracts by the end of September 2008. Dr. Shi concluded by saying that the demand for solar energy has continually exceeded expectations and he is confident that this trend will continue as more and more people recognize the benefits of this clean and renewable energy.

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