Gintech Signs a Long-term Solar Wafer Supply Agreement with Nexolon
Release Date: 2008/06/11
Gintech Energy Corporation (TPE: 3514) has signed a long-term supply agreement with South Korea’s Nexolon Co., Ltd., whereby Nexolon will supply Gintech with solar wafers. Over the period from June 11, 2008 to 2014, Nexolon will be supplying Gintech with 6-inch monocrystalline solar wafers at the price stipulated in the contract. Total supply over the period will be approximately 415 MW.
Market demand in the solar energy industry is growing rapidly. This new contract with Nexolon will help Gintech to maintain a high level of supply in order to develop new customers. The support provided by the new long-term materials supply contract will enable Gintech to raise its annual production capacity from 560MW to 660MW in 2008. In the meantime, it has already chosen a site in the Hsinchu Science Park near the company’s Factory Site A for the construction of a new Factory Site B, the annual production capacity of which will eventually reach 840MW. Construction of the Factory Site B facility will begin in the third quarter of 2008; the facility is scheduled for completion in the third quarter of 2009. With this new production capacity coming on-stream, it is anticipated that Gintech’s overall production capacity will rise to 1GW in 2009, giving Gintech the highest annual production capacity of any specialist solar cell manufacturer in Taiwan.
Nexolon, a Korean company with its headquarters located in Seoul, is a rising manufacturer of multicrystalline and monocrystalline wafers for solar cell production. While established in 2007, Nexolon is rapidly expanding its operation and plans to have an operating capacity of 150MW by end of 2008 and 400MW by 2009. Nexolon has particular strength in making high quality 6 inch monocrystalline wafers and has an ambitious goal of establishing itself as one of world leading suppliers of solar wafers with further future expansion and investment plans.