XINYU CITY, CHINA & SUNNYVALE, USA: LDK Solar Co. Ltd, a leading manufacturer of polysilicon, multicrystalline solar wafers and PV products, has signed a two-year polysilicon sales agreement valued at approximately $300 million with BYD Co. Ltd.
BYD is a China-based enterprise specializing in IT, automobiles and green energy that is 10 percent owned by Berkshire Hathaway. Under terms of the agreement, LDK Solar will supply polysilicon with monthly shipments expected to commence in January 2011 and extend through the end of 2012. A deposit for this two-year contract has already been received.
"We are very excited to add BYD, a leading high-tech enterprise that has a strong commitment to the green energy sector, as a key customer," stated Xiaofeng Peng, chairman and CEO of LDK Solar. "This agreement is a testament to the success of LDK's polysilicon facilities and our ability to provide customers with quality PV products that can help them achieve their business goals."