Thursday, October 4, 2007

LDK Solar to supply wafers to Solartech

October 3, 2007

Delivery starts in 2008 for $224 million worth of multicrystalline solar wafers.

Xinyu, China-based LDK Solar (NYSE: LDK) said today it signed a deal to supply multicrystalline wafers to Taiwan's Solartech Energy.

Under the five year contract, LDK will supply $224 million worth of multicrystalline solar wafers to Solartech. Delivery is expected to start in 2008.

"We are pleased to strengthen our long-standing partnership with Solartech, one of our first customers," said Xiaofeng Peng, chairman and CEO of LDK.

"We continue to selectively allocate our wafer supplies and to build our presence as a global leader in the solar industry."

Multicrystalline solar wafers are the principal raw material used to produce solar cells.

Charles Chang, president of Solartech, said, "This agreement enables us to secure a significant amount of LDK Solar's high-quality wafers as we rapidly increase our production capacity."

"Solartech plans to double its capacity to 60 megawatts in November 2007 and to add 50 MW annually over the next two years to reach an annual production capacity of 160 MW in 2009."

Last week, LDK Solar announced an agreement to supply Mosel Vitelic, another Taiwan solar company. LDK plans to deliver $190 million worth of solar wafers to Mosel Vitelic under that deal

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