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Suntech and MEMC finalize solar wafer contract |
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Written by Administrator
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Wednesday, 02 August 2006 |
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BEIJING, August 2 (InfoChina) -- Suntech Power Holdings Co., Ltd. (NYSE:STP) recently signed an agreement with MEMC on silicon sheet procurement.
According to the agreement, MEMC will provide 5-6 billion U.S. dollars worth of solar wafer in the following 10 years while Suntech will grant capital assistance for MEMC to expand production, which in turn will guarantee Suntech a stable supply.
Shi Zhengrong, board chairman and CEO of Suntech, noted that the contract is of great significance for Suntech to realize a solar power generation capacity of 1,000 MW by 2010.
MEMC, located in St. Peters, Missouri, USA, is a leading global supplier of wafers to the semiconductor industry.
Wuxi-based Suntech Power Holdings Co., Ltd. in east China’s Jiangsu province is one of the world's top 10 manufacturers of photovoltaic (PV) cells in terms of production output.
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