May 5 2008
LDK Solar Co., Ltd., a leading manufacturer of multicrystalline solar wafers, today announced that it has signed a five-year contract to supply multicrystalline solar wafers to Germany-based Qimonda AG (Qimonda).
Under the terms of the agreement, LDK Solar will deliver approximately 540 MW of multicrystalline solar wafers to Qimonda (or its new joint venture with Centrosolar) over a five-year period commencing in 2009 through 2013. Qimonda will make an advanced payment representing a portion of the contract value to LDK Solar. Qimonda is leveraging its experience with silicon suppliers, as well as the availability of scrap silicon from its DRAM operations, to set up supply contracts with favorable terms. The signed agreement furthermore allows LDK to receive scrap silicon material from Qimonda's chip production operations. Silicon supply for the initial capacity has been secured with wafers from LDK.
"We are excited to enter this long-term wafer supply agreement with Qimonda as they launch a new joint venture in the solar business," stated Xiaofeng Peng, Chairman and CEO. "We are very pleased to have secured an additional resource of scrap silicon material through this strategic partnership."
"We are pleased to build the long term partnership with the leading wafer manufacturer in China as we have newly entered the exciting field in renewable energy," commented Kin Wah Loh, President and Chief Executive Officer of Qimonda AG. "We look forward to building a new competitive edge in the solar business with the support of LDK Solar."