Comtec Solar signs wafer supply contracts

HONG KONG: Monocrystalline wafer manufacturer, Comtec Solar Systems has signed new wafer supply framework agreements with price subject to negotiation to provide major customers Gintech Energy Corporation, Jetion Solar, CHINT Group Corp. and Neosolar Power Corp. for a total of approximately 200MW in monocrystalline solar wafers.

Under the terms of the contracts, Comtec will supply each of the GinTech, Jetion, Chint and Neosolar with approximately 50MW of monocrystalline wafers from January 2011 to December 2011.

Company Wafer Supply Deals: 2011
(approximate amounts)

China Sunergy Co. Ltd. 100 MW
JA Solar Holdings Co. Ltd. 150 MW
Suntech Power Holdings Co. Ltd. 150 MW
Canadian Solar Inc. 50 MW
Gintech Energy Corporation 50 MW
Jetion Solar Holdings Ltd. 50 MW
CHINT Group Corporation 50 MW
Neosolar Power Corporation 50 MW
Total: 650 MW

"I am pleased that, with the strong demand from our major customers, the committed orders for 2011 already exceed 600MW which is expected full capacity by end of 2010. At the moment, we still cannot fulfill all the demand from our customers and they keep requesting additional commitments for the shipment in 2011. This gives us strong confidence that we can fill up additional capacity when we ramp up to 1000MW before the end of 2011. Meanwhile, one of our major tasks is to push up the progress of our additional 400MW expansion plan for 1GW capacity next year," said John Zhang, Chairman and CEO of Comtec Solar.

Zhang continued: "With the market trend of increasing demand for monocrystalline wafers, customers are becoming more quality conscious than before. Therefore, we will maintain our focus on product quality and technology improvement. We are positive that we can leverage on the strong market demand to secure more contracts in the coming months."

Source: Solarbuzz.