Taiwan's Neo Solar makes wafer, polysilicon orders to S Korean firms
(ADPnews) - Nov 22, 2010 - Taiwan's solar cells maker Neo Solar Power (TPE:3576) today said it had placed wafer and polysilicon supply orders with two South Korean manufacturers.
Neo Solar has entered a three-year deal with Osung LST Co Ltd (KDQ:052420). The latter will supply of 31.25 million pieces of wafers to Neo Solar from 2011 to the end of 2013.
The Taiwanese company has also signed a seven-year supply agreement with Hankook Silicon for 11,600 tonnes of polysilicon for the period of 2011-2017.
Neo Solar said its orders had exceeded its capacity and it has been entering polysilicon and wafer supply deals in a bid to stabilize its long-term material supply and meet robust demand.
The company is also planning to ramp up its annual capacity to 800 MW at the end of 2010 and over 1.2 GW in 2011.
"NSP believes that by having better control over supplies and orders, we can continue to expand beyond market growth, broaden our product range, and increase our market share", Neo Solar's chairman Quincy Lin said.