SolarWorld AG (SWV.F) with its subsidiary Deutsche Solar AG agreed to a ten-year contract for delivery of crystalline silicon wafers to India-based solar cell producer Solar Semiconductor Pvt. Ltd. The contract is worth an estimated 750 million euros.
This gives the SolarWorld Group a long-term external volume of orders of more than six billion EUR in the wafer business until the year 2018.
"With the new wafer contract we are securing the capacity utilization of the new production facility in Freiberg in Saxony," said Dipl.-Ing. Frank H. Asbeck, Chairman and CEO of SolarWorld AG.
On 7 July 2008 the group will start the construction work for the new wafer factory. SolarWorld AG will invest 350 million EUR on the new 200,000 square meter site.
SolarWorld plans increase the production capacity at the Freiberg location from 500 megawatts (MW) to 750 MW until the end of the year 2009. In 2010 another 250 MW are to follow.
About SolarWorld AG
The SolarWorld AG group is involved at all levels of the solar value chain and combines all activities of the industry from silicon as the raw material to turn-key solar power system. The group is exclusively dedicated to its core business of photovoltaic power generation, operating production facilities in Germany and the USA. They in turn supply the SolarWorld AG sales offices in Germany, Spain, USA, South Africa and Singapore. In South Korea SolarWorld AG is currently building up a solar module production facility in order to be able to serve the growing demand in Asia. SolarWorld AG employs about 2,000 people worldwide.
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