Aug 25, 2014 - Chinese company Solargiga Energy Holdings Ltd (HKG:0757) said today it will offer processing services for 73 MW of solar modules to a unit of China Power Investment Corp (CPI) by end-2014.
The photovoltaics (PVs) firm and CPI previously entered into a long-term partnership for PV ingot and wafer manufacturing services in 2011. The new processing contract between their respective units, Jinzhou Yangguang Energy Co Ltd and CPI Solar Power Xian Co Ltd, will make state-owned power generation company CPI the second largest customer of Solargiga in the original equipment manufacturer (OEM) field. Japanese electronics group Sharp Corp (TYO:6753) remains its biggest customer.
The financial terms of the latest deal were not revealed.
The PV company pointed out in the statement that CPI is beginning to widely adopt monocrystalline silicon wafer products developed by Solargiga for the production of solar cells.
We will be reporting Solargiga's financial results in the middle of this week.