GCL-Poly Signed a Long-term Contract with Solarfun to Supply 2,500 MW of Wafer and Polysilicon Products
(21 December 2010, Hong Kong) GCL-Poly Energy Holdings Limited (“GCL-Poly”, the “Company” or the “Group”; stock code: 3800.HK) is pleased to announce that it has signed a long-term supplementary wafer and polysilicon product supply contract with Solarfun Power Holdings Co., Limited (“Solarfun”, Nasdaq: SOLF), a world leading vertically-integrated manufacturer of PV modules. The Company will provide Solarfun with a total of 2,500MW wafer and polysilicon products over the next five years.
Under the supplementary wafer and polysilicon product supply contract between GCL (Suzhou) Solar Energy Technology Company Limited, a subsidiary of the Group, and Solarfun, the Group will provide a total of 2,500MW wafer and polysilicon products from January 2011 to December 2015. A price adjustment mechanism is included in the contract.
Mr. Shu Hua, the Executive Director and Executive President of GCL-Poly stated, “We are glad to maintain our close strategic partnership with Solarfun, one of the world’s leading solar companies. We will provide high quality services to support Solarfun’s rapid development. We look forward to achieving a win-win situation with Solarfun in the global solar industry.”
Mr. Ping Xie, the President and Chief Executive Officer of Solarfun said, “By signing the long-term supplementary wafer and polysilicon product contract with GCL-Poly, we have further strengthened the long-term strategic partnership between both parties. As a result, this will solidify our requirements for key raw materials on a cost-effective basis and allow us to continue to expand scale and meet our growing customer needs worldwide.”
