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Neo Solar Power signs contract for silicon wafer supply
RAW MATERIAL:
The new contract with LDK Solar should help the solar cell maker secure its material supply to support its capacity expansion plans
By Lisa Wang
STAFF REPORTER
Friday, Jan 18, 2008, Page 11
Neo Solar Power Corp (新日光), a Taiwanese solar cell manufacturer, yesterday extended its partnership with China's LDK Solar Hi-tech Co (江西賽維) by signing a 10-year agreement to secure silicon wafer supplies amid a shortage of the key raw material.
Neo Solar Power said LDK agreed to supply it with silicon wafers for manufacturing 5 megawatt solar cells from today through 2018, a company filing to the Taiwan Stock Exchange said.
The contract "will ensure sufficient supply for the company's long-term capacity expansion," said the Hsinchu-based company, which is also a subsidiary of the nation's leading computer memory chipmaker Powerchip Semiconductor Corp (力晶半導體)
Neo Solar Power plans to aggressively expand annual production to 210 megawatt by the end of this year, compared with 30 megawatt last year.
Last September, the Taiwanese company also inked a US$495 million contract with LDK for silicon wafer supply through December 2010.
Neo Solar Power said revenues last year grew more than eight-fold to NT$3.66 billion (US$113 million) compared with 2006.
Shares of Neo Solar Power slid 3.8 percent to close at NT$135 yesterday on the Emerging Stock Market (興櫃市場).
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