Ucilia Wang
April 8, 2009 at 12:06 PM
Q-Cells and LDK Solar said they are forming a joint venture to develop large-scale power plants to buyers in Europe and China.
LDK Solar has been supplying silicon wafers to Q-Cells, which turns those wafers into solar cells and sell them to panel makers. Q-Cells said the joint venture would enable both companies to work more closely together and offer better deals to customers. The joint venture, LQ Energy, would contract with panel makers to produce the panels for the power plant projects.
Both companies also figured that they could take advantage of each other’s marketing know-how in their home territories. LDK is based in China while Q-Cells is Germany. The companies said they have started their first, 40-megawatt project in Europe, and are shopping for a buyer.
Both companies have been hit by the economic downturn. Q-Cells has cut sales forecast for 2009 twice since December. LDK has delayed a factory expansion plan and has had to deal with customers who can’t pay as promised.
LDK’s shares on the New York Stock Exchange rose 4 percent in recent trading to reach $7.06 per share.
Showing posts with label silicon wafer. Show all posts
Showing posts with label silicon wafer. Show all posts
Saturday, April 11, 2009
Tuesday, January 6, 2009
LDK Solar Lowers Sales Outlook, Delays Factory Plan
January 5, 2009
LDK Solar on Monday slashed its sales and shipment estimates for the fourth quarter of 2008 and is now expecting a lackluster 2009, news that caused its stock to plunge by 15 percent.
The Chinese maker of silicon wafers, which are turned into solar cells for making solar panels, said preliminary data showed that it likely generated $425 million to $435 million for the quarter that ended in December, instead of the previously anticipated $555 million to $565 million.
LDK (NYSE: LDK) said it also shipped an estimated 245 megawatts to 255 megawatts worth of wafers during the quarter, down from the 260 megawatts to 270 megawatts.
Recession and customers who wanted to delay delivery prompted the lower sales, the company said. LDK plans to announce full fourth-quarter and 2008 financial results in late February or early March.
The revised estimates underscore how declining prices are whacking the solar industry. The company reduced revenue estimates by around 23 percent but lowered shipment by only 5 percent. Thus, prices are dropping far faster than any decline in actual demand for products.
The situation could get worse in 2009 as it completes manufacturing projects while facing declining demand.
LDK launched ambitious plans to build two factories in China for producing polysilicon, the main ingredient for making wafers, over the past year and half. The two polysilicon factories are LDK's first efforts to make polysilicon instead of relying on outside suppliers.
But LDK is having trouble bringing its first factory into full production mode, the company said Monday. The 1,000-metric ton factory was supposed to be completed and running at capacity by the end of 2008. The factory is producing polysilicon, but it isn't likely to reach full production until mid 2009.
LDK blames problems with the "optimization process" for the delay but didn't provide more details. Calls and emails to the company weren't immediately returned.
The company said the construction of its second polysilicon plant is on track. LDK expects the 15,000-metric ton factory to begin production in the second quarter of 2009.
The outlook for 2009 isn't rosy. LDK expects lower average selling prices for its products and lower wafer shipment this year.
For 2009, it expects to generate between $2.3 billion and $2.5 billion in sales. Shipment could reach between 1.57 gigawatts and 1.67 gigawatts.
The company previously thought it would bring in between $2.9 billion and $3.1 billion in sales and ship between 1.8 gigawatts and 1.85 gigawatts worth of wafers in 2009. Its customers include Q-Cells, Suntech Power Holdings and Canadian Solar.
LDK now expects to produce between 3,000 metric tons and 5,000 metric tons of polysilicon instead of 5,000 metric tons to 7,000 metric tons.
The company's annual wafer capacity would reach 2.3 gigawatts in 2009, an estimate that hasn't changed from the prior forecast.
LDK's shares dropped more than 15 percent to reach $12.61 per share in after-market trading. The company announced the lower sales and forecast after the market closed.
LDK Solar on Monday slashed its sales and shipment estimates for the fourth quarter of 2008 and is now expecting a lackluster 2009, news that caused its stock to plunge by 15 percent.
The Chinese maker of silicon wafers, which are turned into solar cells for making solar panels, said preliminary data showed that it likely generated $425 million to $435 million for the quarter that ended in December, instead of the previously anticipated $555 million to $565 million.
LDK (NYSE: LDK) said it also shipped an estimated 245 megawatts to 255 megawatts worth of wafers during the quarter, down from the 260 megawatts to 270 megawatts.
Recession and customers who wanted to delay delivery prompted the lower sales, the company said. LDK plans to announce full fourth-quarter and 2008 financial results in late February or early March.
The revised estimates underscore how declining prices are whacking the solar industry. The company reduced revenue estimates by around 23 percent but lowered shipment by only 5 percent. Thus, prices are dropping far faster than any decline in actual demand for products.
The situation could get worse in 2009 as it completes manufacturing projects while facing declining demand.
LDK launched ambitious plans to build two factories in China for producing polysilicon, the main ingredient for making wafers, over the past year and half. The two polysilicon factories are LDK's first efforts to make polysilicon instead of relying on outside suppliers.
But LDK is having trouble bringing its first factory into full production mode, the company said Monday. The 1,000-metric ton factory was supposed to be completed and running at capacity by the end of 2008. The factory is producing polysilicon, but it isn't likely to reach full production until mid 2009.
LDK blames problems with the "optimization process" for the delay but didn't provide more details. Calls and emails to the company weren't immediately returned.
The company said the construction of its second polysilicon plant is on track. LDK expects the 15,000-metric ton factory to begin production in the second quarter of 2009.
The outlook for 2009 isn't rosy. LDK expects lower average selling prices for its products and lower wafer shipment this year.
For 2009, it expects to generate between $2.3 billion and $2.5 billion in sales. Shipment could reach between 1.57 gigawatts and 1.67 gigawatts.
The company previously thought it would bring in between $2.9 billion and $3.1 billion in sales and ship between 1.8 gigawatts and 1.85 gigawatts worth of wafers in 2009. Its customers include Q-Cells, Suntech Power Holdings and Canadian Solar.
LDK now expects to produce between 3,000 metric tons and 5,000 metric tons of polysilicon instead of 5,000 metric tons to 7,000 metric tons.
The company's annual wafer capacity would reach 2.3 gigawatts in 2009, an estimate that hasn't changed from the prior forecast.
LDK's shares dropped more than 15 percent to reach $12.61 per share in after-market trading. The company announced the lower sales and forecast after the market closed.
Tuesday, December 16, 2008
Solar cell maker E-ton signs two long-term supply contracts
Nuying Huang, Taipei; Yvonne Yu, DIGITIMES [Tuesday 16 December 2008]
E-ton Solar Tech, a Taiwan-based maker of crystalline silicon solar cells, announced that the company has signed long-term silicon wafer supply contracts with two separate companies, according to a company filing with the Taiwan Stock Exchange (TSE).
According to the filing, E-ton will supply 6-inch polysilicon wafers totaling 309 MWp over six years to one company, while supplying a total of 326MWp worth of monocrystalline 6-inch wafers over seven years to another company.
E-ton did not revel the names of its customers.
E-ton Solar Tech, a Taiwan-based maker of crystalline silicon solar cells, announced that the company has signed long-term silicon wafer supply contracts with two separate companies, according to a company filing with the Taiwan Stock Exchange (TSE).
According to the filing, E-ton will supply 6-inch polysilicon wafers totaling 309 MWp over six years to one company, while supplying a total of 326MWp worth of monocrystalline 6-inch wafers over seven years to another company.
E-ton did not revel the names of its customers.
Thursday, December 4, 2008
China solar wafer supplier LDK urged to cut prices
Nuying Huang, Taipei; Adam Hwang, DIGITIMES [Thursday 4 December 2008]
Gintech Energy, a Taiwan-based maker of crystalline silicon solar cells, has asked LDK Solar, a China-based producer of solar-grade crystalline silicon wafers, to lower its product prices to facilitate the existing cooperation between LDK and Taiwan's solar cell makers, according to industry sources.
Gintech president and COO Ellick Liao made the request to LDK president and COO Xingxue Tong at Tong's visit to Gintech on December 3, the sources indicated. As Taiwan-based makers of solar cells account for about 50% of LDK's total wafer shipments, LDK's price reduction is important to maintain the existing supply chain between LDK and its Taiwan clients, the sources quoted Liao as saying. Tong basically agreed with Liao, but did not said whether LDK would lower prices, the sources noted.
Taiwan makers of solar cells have increasingly suffered from continued drops in spot market price of photovoltaic (PV) modules since November 2008, and therefore strongly hope for reduction in procurement costs of wafers through negotiation with their contract suppliers, of which LDK is a major one, the sources pointed out.
The PV module price drops have stemmed from high inventory levels in main markets: 1.5 months in Germany and 2-3 months in Spain, the sources noted. A reasonable inventory level is two weeks, the sources explained.
To cope with the falling prices of PV modules, Taiwan solar cell makers will have to accept cash-on-delivery orders only, control inventory levels to no more than two weeks, create product differentiation, and enhance sale-related services, the sources cited Liao as suggesting.
Gintech Energy, a Taiwan-based maker of crystalline silicon solar cells, has asked LDK Solar, a China-based producer of solar-grade crystalline silicon wafers, to lower its product prices to facilitate the existing cooperation between LDK and Taiwan's solar cell makers, according to industry sources.
Gintech president and COO Ellick Liao made the request to LDK president and COO Xingxue Tong at Tong's visit to Gintech on December 3, the sources indicated. As Taiwan-based makers of solar cells account for about 50% of LDK's total wafer shipments, LDK's price reduction is important to maintain the existing supply chain between LDK and its Taiwan clients, the sources quoted Liao as saying. Tong basically agreed with Liao, but did not said whether LDK would lower prices, the sources noted.
Taiwan makers of solar cells have increasingly suffered from continued drops in spot market price of photovoltaic (PV) modules since November 2008, and therefore strongly hope for reduction in procurement costs of wafers through negotiation with their contract suppliers, of which LDK is a major one, the sources pointed out.
The PV module price drops have stemmed from high inventory levels in main markets: 1.5 months in Germany and 2-3 months in Spain, the sources noted. A reasonable inventory level is two weeks, the sources explained.
To cope with the falling prices of PV modules, Taiwan solar cell makers will have to accept cash-on-delivery orders only, control inventory levels to no more than two weeks, create product differentiation, and enhance sale-related services, the sources cited Liao as suggesting.
Monday, December 1, 2008
Xingtai Jinglong Electronic Material Company started commercail production
November 28th 2008, Xingtai Jinglong Electronic Material Company held the commercial production ceremony.
At present 40 pcs of monocrystalline silicon furnaces have begun testing production.
Xingtai Jinglong Electronic Material Company will install 400 pcs of monocrystalline silicon furnaces in total, and the total annual production capacity will reach 3,000 metric ton monocrystalline silicon and 80,000,000 pcs of silicon wafers.
At present 40 pcs of monocrystalline silicon furnaces have begun testing production.
Xingtai Jinglong Electronic Material Company will install 400 pcs of monocrystalline silicon furnaces in total, and the total annual production capacity will reach 3,000 metric ton monocrystalline silicon and 80,000,000 pcs of silicon wafers.
Wednesday, November 19, 2008
Taiwan silicon wafer firm sees '09 capacity up 40-50 pct
HSINCHU, Taiwan, Nov 18 (Reuters) - Sino-American Silicon Products Inc, Taiwan's top maker of silicon wafers for solar cells, said on Tuesday it will boost its capacity 40-50 percent next year, amid booming demand for alternative energy.
The company also expects its 2009 sales to rise by a similar amount next year to about T$16 billion ($481 million) from T$11 billion this year, President Doris Hsu said at a media event.
Established in 1981, Sino-American Silicon competes with Green Energy Technology Inc and bigger rivals such as Norway's Renewable Energy Corp ASA and China's LDK Solar Co Ltd.
It sells wafers to downstream solar cell makers such as Motech Industries and E-Ton Solar in Taiwan.
The company also expects its 2009 sales to rise by a similar amount next year to about T$16 billion ($481 million) from T$11 billion this year, President Doris Hsu said at a media event.
Established in 1981, Sino-American Silicon competes with Green Energy Technology Inc and bigger rivals such as Norway's Renewable Energy Corp ASA and China's LDK Solar Co Ltd.
It sells wafers to downstream solar cell makers such as Motech Industries and E-Ton Solar in Taiwan.
Saturday, November 15, 2008
Update: LDK Solar signs wafer supply deal with BP Solar, makes remarks about business in October
14 November 2008 By Mark Osborne
LDK Solar said it has signed a three-year wafer supply deal with BP Solar on the heels of sharing their thoughts about the current business environment. The agreement calls for LDK to provide 435MW of multicrystalline wafers to BP and for BP to supply 1680 metric tons of polysilicon to LDK between 2009 and 2011.
LDK said that as of the end of October 2008, it had secured contracts totaling 1.8GW for 2009 (although it is unclear whether the BP deal is included in those projections). This amount totaled more than 100% of LDK's currently planned output for next year. The company's wafer plant is functioning at full capacity so that they can fulfill its customer orders pursuant to the supply agreements.
The company's cash position totals $460 million and available unused credit facilities total in excess of $430 million. LDK will report its financial results for the third quarter, which ended on 30 September 2008, before the opening of the market on Wednesday, 19 November 2008.
LDK Solar said it has signed a three-year wafer supply deal with BP Solar on the heels of sharing their thoughts about the current business environment. The agreement calls for LDK to provide 435MW of multicrystalline wafers to BP and for BP to supply 1680 metric tons of polysilicon to LDK between 2009 and 2011.
LDK said that as of the end of October 2008, it had secured contracts totaling 1.8GW for 2009 (although it is unclear whether the BP deal is included in those projections). This amount totaled more than 100% of LDK's currently planned output for next year. The company's wafer plant is functioning at full capacity so that they can fulfill its customer orders pursuant to the supply agreements.
The company's cash position totals $460 million and available unused credit facilities total in excess of $430 million. LDK will report its financial results for the third quarter, which ended on 30 September 2008, before the opening of the market on Wednesday, 19 November 2008.
Friday, November 14, 2008
Spot market price of 6-inch solar-grade wafers fall to US$9
Nuying Huang, Taipei; Adam Hwang, DIGITIMES [Wednesday 12 November 2008]
The price level of a 6-inch solar-grade silicon wafer in the spot market stands at US$9 currently, dropping by 10-14.3% from US$10-10.5 quoted in October 2008, according to industry sources in Taiwan.
The price drop is mainly because the global demand for solar cells has turned slack for the time being since Spain's incentive program (Royal Decree 661/2007) expired at the end of September 2008, the sources pointed out. Before the end of September 2008, spot market quotes for such wafers had once climbed to US$11-12.5, the sources indicated.
Several small makers of 6-inch solar-grade silicon wafers in China have offered prices of lower than US$9 in the spot market, but the product quality may be an issue, the sources noted.
As US$9 is still higher than but close to existing contract prices of 6-inch solar-grade silicon wafers, Taiwan-based makers of crystalline silicon solar cells may ask for re-negotiation of such contract prices if spot market prices further slip, the sources pointed out.
The price level of a 6-inch solar-grade silicon wafer in the spot market stands at US$9 currently, dropping by 10-14.3% from US$10-10.5 quoted in October 2008, according to industry sources in Taiwan.
The price drop is mainly because the global demand for solar cells has turned slack for the time being since Spain's incentive program (Royal Decree 661/2007) expired at the end of September 2008, the sources pointed out. Before the end of September 2008, spot market quotes for such wafers had once climbed to US$11-12.5, the sources indicated.
Several small makers of 6-inch solar-grade silicon wafers in China have offered prices of lower than US$9 in the spot market, but the product quality may be an issue, the sources noted.
As US$9 is still higher than but close to existing contract prices of 6-inch solar-grade silicon wafers, Taiwan-based makers of crystalline silicon solar cells may ask for re-negotiation of such contract prices if spot market prices further slip, the sources pointed out.
Tuesday, October 28, 2008
Wafer Works signs 8-year supply deal for silicon
Nuying Huang, Taipei; Adam Hwang, DIGITIMES [Tuesday 28 October 2008]
Wafer Works, a Taiwan-based producer of semiconductor-grade and solar-grade silicon wafers, on October 27 announced it has signed an 8-year contract with an international silicon material supplier for the period from January 2010 to December 2017.
The supply contract is primarily to meet demand for silicon material by Solargiga Energy, Wafer Works' subsidiary and a maker of solar-grade mono- and poly-crystalline silicon ingots/wafers in China, according to industry sources in Taiwan.
Solargiga is expanding its factory on a 4-hectare site located in Liaoning Province, northeastern China, with annual production capacity of monocrystalline silicon ingots/wafers to increase from an equivalent of 200MWp (megawatt-peak) currently to that of 400MWp in 2009, the sources pointed out. In addition, Solargiga will expand its annual production capacity of polycrystalline silicon ingots/wafers from an equivalent of less than 20MWp presently to that of 200MWp in 2009, the sources indicated.
Solargiga's total annual production capacity of crystalline silicon ingots/wafers in 2009 will reach an equivalent of 600MWp, with supply contracts and the spot market to each account for 50% of the needed silicon material, the sources noted.
Wafer Works, a Taiwan-based producer of semiconductor-grade and solar-grade silicon wafers, on October 27 announced it has signed an 8-year contract with an international silicon material supplier for the period from January 2010 to December 2017.
The supply contract is primarily to meet demand for silicon material by Solargiga Energy, Wafer Works' subsidiary and a maker of solar-grade mono- and poly-crystalline silicon ingots/wafers in China, according to industry sources in Taiwan.
Solargiga is expanding its factory on a 4-hectare site located in Liaoning Province, northeastern China, with annual production capacity of monocrystalline silicon ingots/wafers to increase from an equivalent of 200MWp (megawatt-peak) currently to that of 400MWp in 2009, the sources pointed out. In addition, Solargiga will expand its annual production capacity of polycrystalline silicon ingots/wafers from an equivalent of less than 20MWp presently to that of 200MWp in 2009, the sources indicated.
Solargiga's total annual production capacity of crystalline silicon ingots/wafers in 2009 will reach an equivalent of 600MWp, with supply contracts and the spot market to each account for 50% of the needed silicon material, the sources noted.
Wednesday, October 22, 2008
Taiwan-based Green Energy Technology invests in China maker of solar silicon wafers
Nuying Huang, Taipei; Adam Hwang, DIGITIMES [Tuesday 21 October 2008]
Green Energy Technology (GET), a Taiwan-based producer of solar-grade polycrystalline silicon wafers, on October 20 announced its investment of US$5.05 million for a 40% stake in a new joint-venture provider of slicing solar-grade polycrystalline silicon ingots into wafers in northern China, according to GET.
The new provider, with does not yet have an English corporate name, begun factory construction earlier in October 2008 and is expected to start operation in the second half of 2009 with an initial annual production capacity equivalent to 60MWp, GET indicated. While the joint venture is to supply makers of solar cells in China, its establishment is in line with Tatung Group's business strategies of solar energy in the China market, GET pointed out. GET is a member of Tatung Group.
GET will expand its production capacity of polycrystalline silicon wafers in Taiwan through setting up additional lines of slicing ingots into wafers, the company indicated. The additional lines will be completed in the third quarter of 2009, with their aggregate capacity to account for 80% of EGT's total domestic capacity, the company noted.
Green Energy Technology (GET), a Taiwan-based producer of solar-grade polycrystalline silicon wafers, on October 20 announced its investment of US$5.05 million for a 40% stake in a new joint-venture provider of slicing solar-grade polycrystalline silicon ingots into wafers in northern China, according to GET.
The new provider, with does not yet have an English corporate name, begun factory construction earlier in October 2008 and is expected to start operation in the second half of 2009 with an initial annual production capacity equivalent to 60MWp, GET indicated. While the joint venture is to supply makers of solar cells in China, its establishment is in line with Tatung Group's business strategies of solar energy in the China market, GET pointed out. GET is a member of Tatung Group.
GET will expand its production capacity of polycrystalline silicon wafers in Taiwan through setting up additional lines of slicing ingots into wafers, the company indicated. The additional lines will be completed in the third quarter of 2009, with their aggregate capacity to account for 80% of EGT's total domestic capacity, the company noted.
Saturday, October 18, 2008
LDK Solar inks 90-megawatt supply contract
October 17, 2008
NEW YORK (AP) - LDK Solar Co., which makes solar wafers, said Friday it has signed a three-year "take-or-pay" contract to supply solar wafers to a U.S.-based energy company.
Financial terms of the deal, as well as the customer's name, were not disclosed.
China-based LDK Solar will supply about 90 megawatts of silicon solar wafers over three years starting in 2009. The customer will supply at least 300 metric tons of polysilicon, and make a down payment.
NEW YORK (AP) - LDK Solar Co., which makes solar wafers, said Friday it has signed a three-year "take-or-pay" contract to supply solar wafers to a U.S.-based energy company.
Financial terms of the deal, as well as the customer's name, were not disclosed.
China-based LDK Solar will supply about 90 megawatts of silicon solar wafers over three years starting in 2009. The customer will supply at least 300 metric tons of polysilicon, and make a down payment.
Tuesday, October 14, 2008
China's JinkoSolar gets $35M
October 13, 2008
Silicon-wafer manufacturer looks at Israeli technology and international expansion ahead of IPO plans.
Shangrao, China-based JinkoSolar said today it raised $35 million in its second round of equity funding.
The round was led by the city of Shangrao, China Israel Value Capital, Shenzhen Capital Group and Israel's Pitango.
JinkoSolar, located in the Jiangxi province, uses a proprietary process involving recovered silicon materials and raw polysilicon to make silicon ingots, which the company makes into monocrystalline and multicrystalline wafers. JinkoSolar then sells the wafers for use in panels.
The company says it cuts wafers more thinly than competitors, which yields more wafers from the raw material and lowers the cost.
The price of polysilicon has been on the rise for the past seven years, recently hitting an all-time high of $400 per kilogram, according to ResearchInChina.
The new round of funding is expected to help the company access technologies from Israel and expand internationally, according to Chen Kang Ping, founder and CEO of JinkoSolar.
The investors said they are working to prepare JinkoSolar for an IPO on the Nasdaq "as soon as the markets are ready," according to Jin Haitao, chairman of Shenzhen Capital Group and general partner of China Israel Value Capital.
China Israel Value Capital's General Partner Ami Dotan said the company made the investment because JinkoSolar has secured long-term silicon supplies and sales contracts, "giving the company an edge over their competitors, especially due to the inconsistent silicon availability."
The solar market is likely to be oversupplied by late 2009 or early 2010, according to a report in September by Thomas Weisel Partners. The causes are an increasing polysilicon supply and rapid growth in the production capacity of silicon wafers. However, the report said, solar is still a healthy market, especially for companies with consistent silicon supplies and vertical integration.
Silicon-wafer manufacturer looks at Israeli technology and international expansion ahead of IPO plans.
Shangrao, China-based JinkoSolar said today it raised $35 million in its second round of equity funding.
The round was led by the city of Shangrao, China Israel Value Capital, Shenzhen Capital Group and Israel's Pitango.
JinkoSolar, located in the Jiangxi province, uses a proprietary process involving recovered silicon materials and raw polysilicon to make silicon ingots, which the company makes into monocrystalline and multicrystalline wafers. JinkoSolar then sells the wafers for use in panels.
The company says it cuts wafers more thinly than competitors, which yields more wafers from the raw material and lowers the cost.
The price of polysilicon has been on the rise for the past seven years, recently hitting an all-time high of $400 per kilogram, according to ResearchInChina.
The new round of funding is expected to help the company access technologies from Israel and expand internationally, according to Chen Kang Ping, founder and CEO of JinkoSolar.
The investors said they are working to prepare JinkoSolar for an IPO on the Nasdaq "as soon as the markets are ready," according to Jin Haitao, chairman of Shenzhen Capital Group and general partner of China Israel Value Capital.
China Israel Value Capital's General Partner Ami Dotan said the company made the investment because JinkoSolar has secured long-term silicon supplies and sales contracts, "giving the company an edge over their competitors, especially due to the inconsistent silicon availability."
The solar market is likely to be oversupplied by late 2009 or early 2010, according to a report in September by Thomas Weisel Partners. The causes are an increasing polysilicon supply and rapid growth in the production capacity of silicon wafers. However, the report said, solar is still a healthy market, especially for companies with consistent silicon supplies and vertical integration.
Sunday, September 28, 2008
China Sunergy Enters into Sales Agreement with Wuxi Guofei Green Energy Source
Seven-Year Agreement Solidifies Long-term Sales Presence within China
NANJING, China, Sept. 25NANJING, China, Sept. 25 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, today announced that it has entered into a seven year sales agreement (the"Agreement") with Wuxi Guofei Green Energy Source Co., Ltd. ("Wuxi Guofei"), a leading Chinese solar energy company.
Under the Agreement, China Sunergy will supply Wuxi Guofei with 10 MW of monocrystalline cells each year, starting from 2009 through 2015, and China Sunergy will receive an advance payment after the signing of the Agreement.
"This represents a significant domestic sales agreement for China Sunergy and secures a long-term demand for our monocrystalline cells," remarked Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy. "The payment terms of the agreement also provides China Sunergy with additional capital for investment in the continued development of our highly efficient solar cells, helping to ensure our company remains an industry leader in the solar energy sector in the future."
About China Sunergy Co. Ltd
China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a leading manufacturer of solar cell products in China as measured by production capacity. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .
NANJING, China, Sept. 25NANJING, China, Sept. 25 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, today announced that it has entered into a seven year sales agreement (the"Agreement") with Wuxi Guofei Green Energy Source Co., Ltd. ("Wuxi Guofei"), a leading Chinese solar energy company.
Under the Agreement, China Sunergy will supply Wuxi Guofei with 10 MW of monocrystalline cells each year, starting from 2009 through 2015, and China Sunergy will receive an advance payment after the signing of the Agreement.
"This represents a significant domestic sales agreement for China Sunergy and secures a long-term demand for our monocrystalline cells," remarked Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy. "The payment terms of the agreement also provides China Sunergy with additional capital for investment in the continued development of our highly efficient solar cells, helping to ensure our company remains an industry leader in the solar energy sector in the future."
About China Sunergy Co. Ltd
China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a leading manufacturer of solar cell products in China as measured by production capacity. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .
Wednesday, September 17, 2008
Suntech breaks ground on new solar-cell production fab
16 September 2008
Suntech has broken ground on a new solar photovoltaics cell production facility in Yangzhou, Jiangsu province, China. The company says it plans to finish the factory and bring its 300-MW cell production capacity online by the end of 2009, boosting its total manufacturing capacity to 1.4 GW.
The new PV cell fab is close to one of Suntech's strategic silicon-wafer supply partners, Shunda Holdings, which the company says will enable it to realize production and operational synergies that are expected to accelerate Suntech's cost-reduction initiatives and path to grid parity.
"With Suntech's rapidly growing international reputation for quality and excellence in solar manufacturing, we are in a prime position to grow our customer base and market share," said Zhengrong Shi, Suntech's chairman/CEO (shown at left). "The Yangzhou facility will provide Suntech with room to meet our capacity expansion target of 2 GW by year end 2010 and enable us to meet the world's burgeoning demand for solar energy."
In May, Suntech announced a 13-year wafer supply agreement with a subsidiary of Shunda, in which the silicon unit will provide Suntech with specified annual volumes of wafers totaling approximately 7 GW over the course of the deal (2008-2020).
"The colocation with Shunda's polysilicon plant and wafering facilities will enable a virtual integration of the solar value chain, from polysilicon to solar panel, supporting our move to providing cost-effective solar solutions," noted Shi.
Over the past few months, Suntech has inked several multiyear supply deals with various polysilicon and wafer producers, including DC Chemical, GCL Silicon, and PV Crystalox, and has also purchased a minority stake in poly manufacturer Nitol.
Suntech has broken ground on a new solar photovoltaics cell production facility in Yangzhou, Jiangsu province, China. The company says it plans to finish the factory and bring its 300-MW cell production capacity online by the end of 2009, boosting its total manufacturing capacity to 1.4 GW.
The new PV cell fab is close to one of Suntech's strategic silicon-wafer supply partners, Shunda Holdings, which the company says will enable it to realize production and operational synergies that are expected to accelerate Suntech's cost-reduction initiatives and path to grid parity.
"With Suntech's rapidly growing international reputation for quality and excellence in solar manufacturing, we are in a prime position to grow our customer base and market share," said Zhengrong Shi, Suntech's chairman/CEO (shown at left). "The Yangzhou facility will provide Suntech with room to meet our capacity expansion target of 2 GW by year end 2010 and enable us to meet the world's burgeoning demand for solar energy."
In May, Suntech announced a 13-year wafer supply agreement with a subsidiary of Shunda, in which the silicon unit will provide Suntech with specified annual volumes of wafers totaling approximately 7 GW over the course of the deal (2008-2020).
"The colocation with Shunda's polysilicon plant and wafering facilities will enable a virtual integration of the solar value chain, from polysilicon to solar panel, supporting our move to providing cost-effective solar solutions," noted Shi.
Over the past few months, Suntech has inked several multiyear supply deals with various polysilicon and wafer producers, including DC Chemical, GCL Silicon, and PV Crystalox, and has also purchased a minority stake in poly manufacturer Nitol.
Tianwei Commits to Additional $227 Million of Polysilicon From Hoku
POCATELLO, ID and CHENGDU, CHINA, Sep 16, 2008 (MARKET WIRE via COMTEX) -- Hoku Materials, Inc., a wholly owned subsidiary of Hoku Scientific, Inc. established to manufacture and sell polysilicon for the solar market, and Tianwei New Energy (Chengdu) Wafer Co., Ltd., a subsidiary of Tianwei New Energy Holdings Co., Ltd. that manufactures silicon wafers, photovoltaic cells, and modules in China, today announced the signing of a second long-term contract for Hoku's sale and delivery of additional quantities of polysilicon to Tianwei over a ten-year period beginning in the second quarter of 2010.
According to the contract, up to approximately $227 million may be payable to Hoku during the ten-year period, subject to product deliveries and other conditions. Together with the first contract, this brings Tianwei's total orders from Hoku to approximately $511 million over ten years. The take-or-pay contract provides for the delivery of predetermined volumes of polysilicon each year, with the first shipment in the second quarter of 2010 and the remainder over a ten-year period at set prices that will decline throughout the term of the agreement. The contract also provides for a deposit of $10 million to Hoku in September 2008, and requires that Tianwei make additional deposits for products in the amount of $12 million by December 15, 2008, $12 million by April 30, 2009, and $2 million upon first shipment. Under the agreement, Hoku will grant to Tianwei a security interest in all of its tangible and intangible assets related to its polysilicon business to secure Hoku's obligation to repay $36 million to Tianwei as a credit against product shipments over time.
"We strive to develop solid relationships with suppliers who we view as long-term strategic partners for our mutual growth and success," said A. Guo, Tianwei's general manager. "Hoku shares this long-term view, and we are pleased to further solidify our relationship by placing this second order."
"Tianwei New Energy demonstrates an entrepreneurial spirit, and is backed by the strength of the Tianwei Group, an established leader in the power transmission equipment market in China," said Dustin Shindo, chief executive officer of Hoku Scientific, Inc. "Tianwei is an ideal long-term partner for Hoku, and we were happy to accept their second order."
With the $36 million in additional prepayments from Tianwei, Hoku has secured an aggregate of $306 million in prepayment commitments from its customers, including Suntech, Solarfun, Kinko Energy, and Wealthy Rise (Solargiga). These prepayment commitments will be paid to Hoku based on the terms of the respective agreements that Hoku has with each of its customers. Hoku previously reported its own cash contribution to the plant as $47 million. Combining the new total of $306 million in customer prepayment commitments with Hoku's cash contribution of $47 million brings the total committed project funding to approximately $353 million.
Shindo commented, "Considering the additional prepayments from our new contract with Tianwei and the anticipated timing of prepayment receipts from our other customers, we believe we have secured sufficient funding to keep the procurement and construction of our polysilicon plant on track through the first quarter of 2009, without the need to raise additional capital from financing in 2008. Nevertheless, we will continue evaluating market conditions to determine the best time to raise additional project funds that will be needed in 2009 through debt and/or equity."
Hoku previously reported that it was evaluating ways to increase the effective capacity of its facility beyond 3,500 metric tons of polysilicon production. Hoku recently finalized and obtained the necessary air permits from the State of Idaho to operate its plant at 4,000 metric tons of capacity.
Regarding capacity, Shindo noted, "This new contract with Tianwei increases Hoku's total allocated production output beyond 3,500 metric tons, but less than the 4,000 metric ton limit, which we have confirmed as the forecasted production output for our polysilicon plant. To enable this increase in our production capacity, we have previously designed our trichlorosilane production plant, vent gas recovery system, and select other infrastructure items to accommodate additional production output beyond 3,500 metric tons per year. We expect that continued progress on project development will help us refine our estimated construction and procurement costs. With improved visibility on forecasted expenses, and with the incremental increase in planned production capacity, we are evaluating any associated increases in total project costs. That said, we believe that the increase in planned production output from 3,500 to 4,000 metric tons per year will not require the purchase of any additional polysilicon reactors, trichlorosilane production equipment, or vent gas recovery equipment."
According to the contract, up to approximately $227 million may be payable to Hoku during the ten-year period, subject to product deliveries and other conditions. Together with the first contract, this brings Tianwei's total orders from Hoku to approximately $511 million over ten years. The take-or-pay contract provides for the delivery of predetermined volumes of polysilicon each year, with the first shipment in the second quarter of 2010 and the remainder over a ten-year period at set prices that will decline throughout the term of the agreement. The contract also provides for a deposit of $10 million to Hoku in September 2008, and requires that Tianwei make additional deposits for products in the amount of $12 million by December 15, 2008, $12 million by April 30, 2009, and $2 million upon first shipment. Under the agreement, Hoku will grant to Tianwei a security interest in all of its tangible and intangible assets related to its polysilicon business to secure Hoku's obligation to repay $36 million to Tianwei as a credit against product shipments over time.
"We strive to develop solid relationships with suppliers who we view as long-term strategic partners for our mutual growth and success," said A. Guo, Tianwei's general manager. "Hoku shares this long-term view, and we are pleased to further solidify our relationship by placing this second order."
"Tianwei New Energy demonstrates an entrepreneurial spirit, and is backed by the strength of the Tianwei Group, an established leader in the power transmission equipment market in China," said Dustin Shindo, chief executive officer of Hoku Scientific, Inc. "Tianwei is an ideal long-term partner for Hoku, and we were happy to accept their second order."
With the $36 million in additional prepayments from Tianwei, Hoku has secured an aggregate of $306 million in prepayment commitments from its customers, including Suntech, Solarfun, Kinko Energy, and Wealthy Rise (Solargiga). These prepayment commitments will be paid to Hoku based on the terms of the respective agreements that Hoku has with each of its customers. Hoku previously reported its own cash contribution to the plant as $47 million. Combining the new total of $306 million in customer prepayment commitments with Hoku's cash contribution of $47 million brings the total committed project funding to approximately $353 million.
Shindo commented, "Considering the additional prepayments from our new contract with Tianwei and the anticipated timing of prepayment receipts from our other customers, we believe we have secured sufficient funding to keep the procurement and construction of our polysilicon plant on track through the first quarter of 2009, without the need to raise additional capital from financing in 2008. Nevertheless, we will continue evaluating market conditions to determine the best time to raise additional project funds that will be needed in 2009 through debt and/or equity."
Hoku previously reported that it was evaluating ways to increase the effective capacity of its facility beyond 3,500 metric tons of polysilicon production. Hoku recently finalized and obtained the necessary air permits from the State of Idaho to operate its plant at 4,000 metric tons of capacity.
Regarding capacity, Shindo noted, "This new contract with Tianwei increases Hoku's total allocated production output beyond 3,500 metric tons, but less than the 4,000 metric ton limit, which we have confirmed as the forecasted production output for our polysilicon plant. To enable this increase in our production capacity, we have previously designed our trichlorosilane production plant, vent gas recovery system, and select other infrastructure items to accommodate additional production output beyond 3,500 metric tons per year. We expect that continued progress on project development will help us refine our estimated construction and procurement costs. With improved visibility on forecasted expenses, and with the incremental increase in planned production capacity, we are evaluating any associated increases in total project costs. That said, we believe that the increase in planned production output from 3,500 to 4,000 metric tons per year will not require the purchase of any additional polysilicon reactors, trichlorosilane production equipment, or vent gas recovery equipment."
Saturday, September 6, 2008
LDK Solar enters into 8-Yr contract with Sumitomo to supply multicrystalline solar wafers
9/5/2008 3:31 AM ET
(RTTNews) - Friday, LDK Solar Co. Ltd. said it signed an eight-year contract with Japan- based Sumitomo Corp. to supply multicrystalline solar wafers to a manufacturer of solar cells and modules in Japan.
As per the agreement, LDK Solar will deliver around 750 MW of multicrystalline silicon wafers to Sumitomo over an eight-year period, beginning in 2009 and extending through 2016. Sumitomo will make an advanced payment representing a portion of the contract value to LDK Solar.
(RTTNews) - Friday, LDK Solar Co. Ltd. said it signed an eight-year contract with Japan- based Sumitomo Corp. to supply multicrystalline solar wafers to a manufacturer of solar cells and modules in Japan.
As per the agreement, LDK Solar will deliver around 750 MW of multicrystalline silicon wafers to Sumitomo over an eight-year period, beginning in 2009 and extending through 2016. Sumitomo will make an advanced payment representing a portion of the contract value to LDK Solar.
Saturday, August 30, 2008
Suntech to buy silicon wafers from GCL Silicon
SIOUX FALLS, S.D. - Chinese solar cell maker Suntech Power Holdings Co. Ltd. said Wednesday it has signed a five-year agreement to buy silicon wafers from GCL Silicon Technology Holdings Inc.
Under the agreement, GCL Silicon will supply Suntech with 9,420 metric tons of polysilicon and 1.1 gigawatts of silicon wafers from 2008 to 2012.
Financial terms were not disclosed.
"These agreements with GCL Silicon will greatly strengthen our silicon pipeline and support our capacity and production expansion over the next five years," Zhengrong Shi, Suntech's chairman and chief executive, said in a statement.
GCL Silicon is based in China's Jiangsu Province.
Under the agreement, GCL Silicon will supply Suntech with 9,420 metric tons of polysilicon and 1.1 gigawatts of silicon wafers from 2008 to 2012.
Financial terms were not disclosed.
"These agreements with GCL Silicon will greatly strengthen our silicon pipeline and support our capacity and production expansion over the next five years," Zhengrong Shi, Suntech's chairman and chief executive, said in a statement.
GCL Silicon is based in China's Jiangsu Province.
Friday, June 13, 2008
ARISE Technologies Signs Six-Year Agreement for Supply of Silicon Wafers From ReneSola
WATERLOO, ON, June 11 /CNW/ - ARISE Technologies Corporation, which is dedicated to becoming a leader in high-performance, cost-effective solar technology, today announced that its wholly owned subsidiary, ARISE Technologies Deutschland GmbH (ARISE Germany) has signed a six-year agreement with a wholly owned subsidiary of ReneSola Ltd (NYSE: SOL and AIM: SOLA.L) to supply ARISE with 203.5 MW of silicon wafers. ReneSola Ltd is a leading solar wafer manufacturer based in China.
The agreement with Zhejiang Yuhui Energy Source Co., Ltd. commences July 1, 2008 and extends through June 30, 2014. Shipments are expected to consist of 203.5 MW of silicon wafers over the 6-year term. Pricing and payment termsare consistent with current standard industry practices.
"With this agreement, ARISE now has supply contracts for 100 percent of the solar wafers that we require in 2008 and approximately 60 percent of our needs for 2009 for our PV (photovoltaic) cell production plans at our new German manufacturing plant," said Bart Tichelman, President and Chief Executive Officer. "ReneSola is the seventh, high-quality silicon wafer manufacturer with which ARISE now has developed a supply relationship that we believe will enable us to meet our longer-term requirements."
About ReneSola
ReneSola Ltd is a leading solar wafer manufacturer based in China. Capitalizing on proprietary technologies and technical know-how, ReneSola manufactures monocrystalline and multicrystalline solar wafers. In addition, ReneSola strives to enhance its competitiveness through upstream integration into virgin polysilicon manufacturing. ReneSola possesses a global network of suppliers and customers that include some of the leading global manufacturers of solar cells and modules. ReneSola's shares are currently traded on the New York Stock Exchange (NYSE: SOL) and the AIM of the London Stock Exchange (AIM:SOLA.L). For more information about ReneSola, please visit http://www.renesola.com.
About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated to becoming a leader in high-performance, cost-effective solar technology. The company operates through three divisions. The PV Cell Division manufactures PV(photovoltaic) cells at its first manufacturing plant opened in April 2008 in Bischofswerda, Germany. The division is developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of greater than 20 percent. The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999 percent purity) for PV cell applications, based on a simplified chemical vapor deposition process. The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality. The PV Systems Division provides complete turnkey PV solutions for solar farms and rooftop installations under the Ontario standard offer program.
The agreement with Zhejiang Yuhui Energy Source Co., Ltd. commences July 1, 2008 and extends through June 30, 2014. Shipments are expected to consist of 203.5 MW of silicon wafers over the 6-year term. Pricing and payment termsare consistent with current standard industry practices.
"With this agreement, ARISE now has supply contracts for 100 percent of the solar wafers that we require in 2008 and approximately 60 percent of our needs for 2009 for our PV (photovoltaic) cell production plans at our new German manufacturing plant," said Bart Tichelman, President and Chief Executive Officer. "ReneSola is the seventh, high-quality silicon wafer manufacturer with which ARISE now has developed a supply relationship that we believe will enable us to meet our longer-term requirements."
About ReneSola
ReneSola Ltd is a leading solar wafer manufacturer based in China. Capitalizing on proprietary technologies and technical know-how, ReneSola manufactures monocrystalline and multicrystalline solar wafers. In addition, ReneSola strives to enhance its competitiveness through upstream integration into virgin polysilicon manufacturing. ReneSola possesses a global network of suppliers and customers that include some of the leading global manufacturers of solar cells and modules. ReneSola's shares are currently traded on the New York Stock Exchange (NYSE: SOL) and the AIM of the London Stock Exchange (AIM:SOLA.L). For more information about ReneSola, please visit http://www.renesola.com.
About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated to becoming a leader in high-performance, cost-effective solar technology. The company operates through three divisions. The PV Cell Division manufactures PV(photovoltaic) cells at its first manufacturing plant opened in April 2008 in Bischofswerda, Germany. The division is developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of greater than 20 percent. The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999 percent purity) for PV cell applications, based on a simplified chemical vapor deposition process. The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality. The PV Systems Division provides complete turnkey PV solutions for solar farms and rooftop installations under the Ontario standard offer program.
Monday, April 21, 2008
JA Solar signs supply agreement with GCL Silicon Technology
JA Solar to receive silicon wafers from GCL Silicon Technology under long-term deal
April 21, 2008: 08:40 AM EST
NEW YORK (Associated Press) - JA Solar Holdings Co. said Monday that Jiangsu Zhongneng Polysilicon Technology Development Co., a unit of GCL Silicon Technology Holdings Ltd., has agreed to supply the Chinese solar cell maker with silicon wafers under a long-term deal.
Financial terms were not disclosed.
Under the agreement, GCL Silicon Technology will supply about 6,000 megawatts of silicon wafers to JA Solar through December 2015 at predetermined prices.
JA Solar said delivery of the wafers began this month.
"This agreement is an important part of our growth strategy, as we further strengthen and diversify our supply position to support JA Solar's rapid growth and increased customer demand," said JA Solar Chief Executive Samuel Yang in a statement.
April 21, 2008: 08:40 AM EST
NEW YORK (Associated Press) - JA Solar Holdings Co. said Monday that Jiangsu Zhongneng Polysilicon Technology Development Co., a unit of GCL Silicon Technology Holdings Ltd., has agreed to supply the Chinese solar cell maker with silicon wafers under a long-term deal.
Financial terms were not disclosed.
Under the agreement, GCL Silicon Technology will supply about 6,000 megawatts of silicon wafers to JA Solar through December 2015 at predetermined prices.
JA Solar said delivery of the wafers began this month.
"This agreement is an important part of our growth strategy, as we further strengthen and diversify our supply position to support JA Solar's rapid growth and increased customer demand," said JA Solar Chief Executive Samuel Yang in a statement.
Thursday, April 17, 2008
Shenzhen Topray Signed Silicon Wafer Purchase Agreement with Renesola
April 17th 2008, Shenzhen Topray signed silicon wafer purchase agreement with Renesola, Renesola will offer 105MW wafer to Shenzhen Topray starting July 2008 to June 2014, the total agreement value is about RMB 1.5 billion.
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