CSI and Gintech sign solar cell supply agreement with
Release Date: 2007/11/26
Gintech Energy Corporation today announced it signed an annual solar cell supply contract with long-term customer Canadian Solar Inc. (“the Company”, or “CSI”) (NASDAQ: CSIQ). Total shipments to CSI under the contract amount are between 17MW to 22MW with fixed pricing and delivery schedules in 2008. The shipment will start in January 2008.
Scott Kuo, Chairman of Gintech commented, “Gintech is committed to delivering solar cells of the highest quality at competitive prices to serve our clients. Our goal is to become the best and specialized solar cell producer with solid and diversified customer relationship. Our continued relationship with CSI, one of the leading solar manufacturing companies, brings us closer to this goal.
Dr. Shawn Qu, CEO of CSI, said, “We were able to secure this new contract on competitive terms due to our strong relationship with Gintech, which has been a valued partner of CSI since 2004. At fixed pricing with scheduled delivery times, the contract provides added visibility into our supply channel to support our 2008 business plan. This is another example of our ability to achieve win-win relationships with companies across the solar value chain. The continuation of our collaboration with Gintech is in line with our long-term supply strategy, which includes direct purchasing from a selected number of long-term strategic cell suppliers in addition to our internal solar cell production.”