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Neo Solar Power inks five-year deal to supply solar cells to PV module maker Solarday

October 26th, 2008 by kalyan89 in Press Releases, Reports, PV Industry - Asia, SC Company Reports

By Tom Cheyney, 08 October 2008 |

Taiwanese solar cell manufacturer Neo Solar Power and Italian photovoltaic module producer Solarday have entered into a five-year sales contract worth $210 million. The new deal adds to an existing three-year agreement, bringing the total contracted amount between the two companies to $320 million.  “NSP continues to expand in geographic coverage and further increase market share in the European markets,” said Quincy Lin, chairman of NSP. “Italy is expected to become the next focal point of the solar industry, indicating a market size equivalent to the Spain market in 2009. Ranked among top three solar module manufacturers in Italy, Solarday has been a strong partner for NSP. We are very pleased to further extend and broaden our partnership with Solarday.

“NSP has built a solid customer base consists of major module manufacturers in their respective geographic region. Following recent successful conclusion of wafer procurement contracts, NSP is well positioned to meet the robust demand of its customers and is expected to outpace the growth of the solar market.”

In recent months, the solar-cell manufacturer has signed long-term wafer supply agreements with WaferWorks and REC worth a combined $976 million.   “Solarday further secures an additional long-term supply of solar cells, ensuring stability to its growth strategy,” added company chairman, Carmelito Denaro. “With constantly increasing requests for modules supply in Italy and throughout Europe, Solarday has succeeded to meet demanding expectations of its clients for high-quality solar modules. NSP has been an important supplier in the achievements of Solarday and this agreement further onsolidates the partnership with NSP as a leading cells manufacturer.”

Solarday’s multicrystalline silicon-based module factory is located in the Milan region of Italy and has a current production capacity of 60 MW, with plans for expanding to 100 MW in 2009.  Based in Hsinchu, NSP has one solar-cell fab running at full 90-MW capacity and a second fab, with four lines starting production in August, ramping toward a projected 600-MW capacity.