SunPower Corporation (Nasdaq: SPWR), a Silicon Valley-based manufacturer of high-efficiency, solar cells and panels, announced it has signed a silicon ingot supply agreement for 2007 with REC SiTech AS. REC SiTech, a wholly owned subsidiary of Renewable Energy Corp. ASA (REC), is a leading supplier of monocrystalline ingots to the solar energy industry. For the year 2007, the contract calls for SunPower to purchase approximately $20 million of silicon ingots from REC SiTech. This contract builds on previous ingot supply agreements and purchase orders between the two companies. SunPower’s silicon supply for 2007 remains sufficient to produce 110 megawatts of cell production.
“We are pleased to have finalized this 2007 ingot supply contract with REC SiTech, who we view as an important strategic partner,” said PM Pai, chief operating officer of SunPower.
Loading...