Gintech signs a six-year contract with ReneSolar for 6 years
Release Date: 2008/05/15
Gintech Energy Corporation has announced the signing of a six-year contract with ReneSolar Ltd., under the terms of which ReneSolar will be supplying Gintech with 525MW of solar wafers. Shipment of the wafers to Gintech will begin in mid 2008; this new source of supply will help Gintech to improve the service that it provides to customers.
Recently, the global solar energy market has been affected by wafers shortages. ReneSolar will begin shipping solar wafers to Gintech from July this year, strengthening Gintech’s ability to meet market demand. ReneSolar is China’s leading manufacturer of solar wafers, and is listed on the New York Stock Exchange (NYSE: SOL).
Gintech plans to increase its total production capacity to 560MW in 2008, with an annual output of 220MW. The signing of this long-term wafers supply contract with ReneSolar will help Gintech to diversify its suppliers and boost its annual output, thereby enabling Gintech to expand into new markets and strengthen its strategic partnerships with customers.