The supply agreement will start in mid 2009, and the volumes to be supplied each year will be predetermined. Prices will decline throughout the contract duration. Holu is at the moment building a polysilicon manufacturing plant in America, with an estimated annual capacity of 2,500 tonnes. However, this capacity could be expanded depending on the orders the company receives from new customers in the coming months.
"We are pleased to have established this relationship with Solarfun, a rising star in the solar industry, their long-term strategic direction and their aggressive expansion plans make them an ideal partner for Hoku." said Mr Dustin Shindo, CEO of Hoku Scientific.
"Hoku has built a solid reputation as a leader among the new entrants in the polysilicon field and we are extremely confident in their ability to meet our long term polysilicon requirements," said Mr Lu Yonghua, Chairman of Solarfun. "This contract will help us realize our anticipated manufacturing cost advantages through our previously disclosed vertical integration and capacity expansion plans", he added.
For additional information:
www.hokuscientific.com
www.solarfun.com.cn
