Tue, Nov 23, 2010 - Page 11 News List

Neo Solar inks two agreements with South Korean firms

Staff writer, with CNA

Neo Solar Power Corp (新日光), a Taiwan-based solar cell producer, said yesterday it had signed agreements with two South Korean firms to obtain a long-term supply of production materials.

Neo Solar said it had signed a three-year contract with Osung LST Co for the supply 31.25 million pieces of wafers from next year to the end of 2013.

The Taiwanese company has also signed a seven-year agreement with Hankook Silicon Co for the supply of 11,600 tonnes of polysilicon from next year to the end of 2017.

Neo Solar said the two agreements represent another step toward setting up strategic alliances with more global partners in a bid to improve its competitive edge worldwide in the growing green energy business.

CAPACITY EXCEEDED

It said next year’s orders have exceeded its capacity and the two new agreements would help stabilize its long-term wafer and polysilicon supply and help meet the strong demand from its customers.

Neo Solar said Hankook is a new company in the polysilicon industry in South Korea. Its annual production output is projected to reach 4,800 tonnes next year and 10,000 tonnes in 2012.

“Neo Solar believes that by having better control over supplies and orders, we can continue to expand beyond market growth, broaden our product range and increase our market share,” chairman Quincy Lin (林坤禧) said in a statement.

Osung LST is also a newcomer to South Korea’s wafer industry, Neo Solar said.

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