May 15 2008
Trina Solar Limited, a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced that the Company has signed a long-term polysilicon supply agreement with Jupiter Corporation Ltd., an affiliate of DTK Industries (Qingdao) Co., Ltd.
Under this agreement, Qingdao DTK will supply Trina Solar with virgin polysilicon sufficient to produce approximately 650 MW of solar modules in aggregate over six years. Delivery of polysilicon at predetermined prices is expected to start in the third quarter of 2009.
"This agreement marks another milestone in Trina Solar's silicon procurement strategy. Through this new agreement with one of the leading emerging polysilicon producers, Trina has taken steps to further secure its long-term procurement needs while reducing the long-term cost of solar energy," said Jifan Gao, Trina Solar's Chairman and Chief Executive Officer. "This agreement will provide a significant portion of our production needs at favorable terms. Qingdao DTK's forward thinking management and advantageous positioning will ensure the success of this agreement."
"We are looking forward to our cooperation with Trina Solar that will help build a cleaner environment for future generations," said Indi Sohal, CEO of Qingdao DTK. "We share Trina's vision to expand the solar industry and make it the premier renewable energy choice. Qingdao DTK is excited to support and be a part of Trina Solar's vision to help build the Solar Industry."
This long-term polysilicon supply agreement will enhance the Company's raw material supplies to strengthen its position as a leading global PV module manufacturer. The addition of Qingdao DTK as a polysilicon supplier shall further diversify Trina Solar's overall polysilicon sourcing as well as increase its flexibility to respond to changing market conditions.