LONDON (Thomson Financial) - ReneSola Ltd said it has entered into a polysilicon supply agreement with China's Sichuan Yongxiang Polysilicon Co Ltd, adding that the deal is an important step in its polysilicon procurement strategy.
Under the agreement, Yongxiang will supply a total of 3,700 tonnes of virgin polysilicon, which is sufficient for about 450MW of wafer production, over a three year period commencing in the second half of 2008.
The polysilicon will be manufactured at Yongxiang's facility in Sichuan province, China, and is expected to be fully commissioned during the second half of 2008.
Chief executive Xian Shou Li said, 'The polysilicon from Yongxiang Polysilicon will supplement the supply from our polysilicon joint venture announced at the time of the second-quarter results and our supply from other sources.'
TFN.newsdesk@thomson.com
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