Solar-Fabrik AG (SFX.DE), through its subsidiary Global Expertise Wafer Division Ltd, has signed a $120.7 million wafer raw material contract with South Korean based Smart Applications Co. Ltd.
The agreement starting in January 2009 will see the delivery of 156 mm monocrystalline wafers to the Solar-Fabrik Group over a period of 6 years.
The contract includes increasing volumes with a significant annual reduction of prices for the delivery of 156 mm monocrystalline wafers to the Solar-Fabrik Group. Solar-Fabrik estimates that the resulting turnover potential based on this contract will be around $16 million in 2009.
Furthermore, Solar-Fabrik is still in negotiations with other suppliers to secure its long-term raw material supply.
Smart Applications Co. Ltd., founded in 2002, is one of the leading manufacturers of solar wafers located in South Korea. Smart Applications has a background in the processing of higher quality wafers for the semiconductor industry and it is currently expanding its activities in the solar energy business. Smart Applications’ solar wafer capacity will reach 80 megawatts (MW) by the end of 2008 and further to 150 MW until 2010, backed up by its polysilicon supply contracts.
Solar-Fabrik explains that the termination of a polysilicon supply agreement recently will be more than compensated in 2009 by today’s contract announcement.
With this new additional supply contact, Solar-Fabrik says that it has strengthened its raw material supply and long term processing capabilities of high quality solar cells and modules. This is particularly important because Solar-Fabrik’s solar cell capacity will already be working at full capacity in 2009 due to increased demand.
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