On December 23, Solarfun Power Holdings Co., Ltd signed a long-term supply contract with GCL-Poly Energy Holdings Limited. The contract details that GCL will supply Solarfun with a total of 2,500 MW wafer and polysilicon products over the next five years.
Solarfun is a Chinese manufacturer of solar PV cells. Solarfun partners with third-party distributors, OEM manufacturers, and system integrators to sell its modules into large-scale utility, commercial and governmental, and residential/small commercial markets. Solarfun employs staff in Europe, North America and Asia. GCL is a Chinese producer of polysilicon products, and one of China’s top green energy enterprises. GCL’s annual polysilicon production capacity is expected to reach 21,000 MT by the end of 2010.
Under the terms of the new contract, GCL will provide the agreed upon product between January 2011 and December 2015. A price adjustment mechanism is included in the contract.
“By signing this long-term supplementary wafer and polysilicon contract with GCL-Poly, we are further strengthening the long-term strategic collaboration between both parties,” said Mr. Peter Xie, President and Chief Executive Officer of Solarfun. “We expect this to satisfy our requirements for key raw materials on a cost-effective basis, and allow us to continue expanding in scale as we meet our growing customer needs worldwide.”
Mr. Shu Hua, Executive Director and Executive President of GCL-Poly, added, “We are pleased to maintain our close strategic collaboration with Solarfun, one of the world’s leading solar companies. We will provide high quality services to support Solarfun’s rapid development. We look forward to achieving a win-win situation with Solarfun in the global solar industry.”