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China Sunergy Enters Agreement with GCL-Poly to Strengthen Supply Chain

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Reviewed

Feb 18 2011

A strategic agreement on long term supply of wafers between Nanjing-based solar cell and module manufacturer, China Sunergy, and a leading wafer supplier, GCL-Poly Energy Holdings, (GCL-Poly) has been announced.

As per the terms of the agreement, China Sunergy will receive an estimated supply of 4,400MW of wafers over a span of six years, with the first delivery commencing in February 2011 and the final supply delivering on December 2016. A clause detailing price adjustment mechanism subject to the market price of wafers has also been mentioned in the agreement.

CEO of China Sunergy, Stephen Zhifang Cai stated that the long term strategic partnership will strengthen Sunergy’s supply chain and add strength to their competitive cost position within the industry. The President and Executive Director of GCL-Poly, Shu Hua also expressed delight in the partnership and stated that the partnership will equally benefit both the companies.

Source:

http://www.chinasunergy.com

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