GCL Solar extends polysilicon and wafer supply deal with Trina Solar

Tue. October 06, 2009; Posted: 09:07 AM

Oct 06, 2009 (Datamonitor via COMTEX) -- TSL | Quote | Chart | News | PowerRating -- GCL Solar Energy Technology Holdings, a subsidiary of GCL-Poly Energy Holdings, has extended its long-term polysilicon and wafer supply agreement with Trina Solar.

Under the adjusted terms of the agreement, the total consideration will remain unchanged from the combined total of the original and supplemental agreements signed in 2008, whereas additional polysilicon and wafer deliveries will be provided starting in 2016 for a five-year period at pre-determined shipment volumes and prices.

The agreement also contains a price adjustment clause that offers a market-linked price formula. GCL Solar will supply Trina Solar with high-quality polysilicon and wafers sufficient to produce approximately 8,500MW of solar modules over 13 years.

Jifan Gao, chairman and CEO of Trina Solar, said: "We are very pleased to strengthen our long-term relationship with GCL-Poly by further extending the tenure of the agreement. This extension will provide a stable source of high-quality materials as well as support our cost reduction initiatives to solidify our position as a high-quality global integrated photovoltaic manufacturer."

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For full details on Trina Solar Ltd. (TSL) click here. Trina Solar Ltd. (TSL) has Short Term PowerRatings of 4. Details on Trina Solar Ltd. (TSL) Short Term PowerRatings is available at This Link.

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