Trina Solar Limited (NYSE: TSL), an integrated manufacturer of solar photovoltaic products, announced that it has signed a long-term polysilicon supply agreement with a subsidiary of GCL Silicon Technology Holdings Ltd.
GCL Silicon Technology will supply Trina Solar with virgin polysilicon sufficient to produce approximately 2,600 megawatts (MW) of solar modules over eight years. Delivery of polysilicon at predetermined prices will start this month.
”Combined with our other long-term agreements, planned in-house polysilicon production, and integrated manufacturing cost efficiencies, we believe we are in a strong position to expand our margins in the long term as the cost of solar energy approaches grid parity," said Jifan Gao, Trina Solar’s Chairman and CEO.
After signing this agreement, Trina Solar said it has now secured approximately 95% of its estimated silicon feedstock requirements for 2008, an equivalent of approximately 195 MW based on a production target of 200 to 210 MW of module output.
About Trina Solar Limited
Trina Solar is currently one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of modules. This integrated value chain helps to ensure that high quality products can be delivered to its end customers around the globe, including a number of European countries, such as Germany, Spain and Italy.
About GCL Silicon Technology
GCL Silicon Technology Holdings Limited, through its subsidiary Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd., sells polysilicon and wafers to the solar industry. The company operates a polysilicon production facility in Xuzhou, Jiangsu Province in China.
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