LDK Solar Co., Ltd. (NYSE: LDK), a manufacturer of multicrystalline solar wafers, announced that it has signed a ten-year contract which is a blend of "Take or Pay" linked with market-based pricing to supply multicrystalline solar wafers to India-based Moser Baer Photo Voltaic Limited (MBPV), a subsidiary of Moser Baer India Limited (MBI)(NSE: MOSERBAER.NS).
Under the terms of the agreement, LDK Solar will deliver 640 MW of multicrystalline solar wafers to MBPV over a ten-year period commencing in mid 2008 through 2017.
"We are very pleased to enter into this mutually equitable agreement with LDK Solar to secure quality solar wafers," commented Ravi Khanna, Chief Executive, Moser Baer Photo Voltaic Limited. "We look forward to a long-term relationship with LDK Solar as we work towards rapidly increasing our scale of operations and capacity to assume leadership position."
Read more coverage on the new Moser Baier solar division.
About LDK Solar
LDK Solar Co., Ltd. is a manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK’s headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People’s Republic of China. The Company’s office in the United States is located in Sunnyvale, California.
About Moser Baer Photo Voltaic Ltd.
Moser Baer Photo Voltaic incorporated in New Delhi, a wholly owned subsidiary of Moser Baer India Ltd, in the business of photovoltaic (PV) cells and modules. MBPV plans to manufacture solar cells and modules by straddling multiple technologies including crystalline silicon, concentration, nano technology and thin films. The manufacturing facilities are housed in a renewable energy SEZ at Greater Noida.
The parent company Moser Baer India Limited is the second largest manufacturer of optical storage media in the world and has business interests in Solar Energy, Entertainment and IT Peripherals & Consumer Electronics.
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