DelSolar, GCL-Poly in long-term strategic alliance

DelSolar Co. Ltd recently announced that it has signed a long-termsilicon wafer supply contract with GCL (Nanjing) Solar Energy Technology Co. Ltd, a wholly-owned subsidiary of GCL-Poly Energy Holdings Ltd toestablish a long-term strategic alliance. GCL-Poly is one of the world’s leading silicon materials suppliers.

According to the contract,GCL-Poly will provide local supplies of wafers to meet the needs ofDelSolar’s Wujiang plant’s expansion from May 2010 to December 2013. The agreement includes a mechanism by which the parties may adjust pricesto better reflect prevailing market conditions. DelSolar expects theagreement to greatly enhance overall operational needs andprofitability.

R.C. Liang, chairman and CEO of DelSolar, said:"One of DelSolar’s goals is to enhance our economies of scale. Ourproduction capacity is currently expected to reach 1GW by 2012. DelSolar is pleased to have entered into the supply agreement with GCL-Poly, aleading manufacturer and supplier of solar raw materials, and to form along-standing strategic partnership. DelSolar is striving to become aleading manufacturer of solar products and to fulfill our mission ofcaring for the environment, energy-saving, and our green Earth."

Zhu Gong Shan, executive director, chairman and CEO of GCL-Poly, added: “We are delighted to enter into a silicon wafer supply agreement andestablish a long-standing strategic partnership with DelSolar, a leading solar company in Taiwan. This contract signifies GCL-Poly’s expansioninto the overseas wafer industry and also demonstrates the endorsementand recognition of GCL-Poly’s silicon wafer products by industryplayers. I believe this agreement will bring more business opportunities and closer co-operation for both companies going forward."