Trina Solar Limited (NYSE: TSL), an integrated manufacturer of solar photovoltaic products,announced that it has signed a long-term polysilicon supply agreement with SILFAB S.p.A.
Under the agreement, SILFAB S.p.A. will supply Trina Solar with virgin polysilicon sufficient to produce approximately 225 megawatts (MW) of solar modules in aggregate over six years. Delivery of polysilicon at predetermined prices will start in the first quarter of 2010.
"We believe that this contract, which offers attractive payment terms, together with our other long-term contracts, will enhance our ability 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.
Trina solar recently cancelled plans to build its own $1 billion dollar polysilicon production facility, stating that a loosening of the polysilicon market made it more cost effective for the company to sign supply contracts.
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. Trina Solar’s solar modules provide electric power for residential, commercial, industrial and other applications worldwide.
About SILFAB S.p.A.
SILFAB S.p.A. is the first Italian company whose mission is the production of high quality solar grade polysilicon for the photovoltaic (PV) market. SILFAB offers superior quality of polysilicon, at Grade: 9N-, suitable for the solar cell manufacturers. SILFAB was founded in Piemonte by an expert in the renewable energy business, Franco Traverso, who has 25 years of experience in the PV sector. SILFAB’s partners are leading PV product providers in Europe with a strong interest in the procurement of solar grade polysilicon.
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