GCL-Poly and Hareon Enter into RMB 20.8 Billion Wafer Supply Contract

published: 2010-09-06 15:22 | editor: | category: News

GCL-Poly Energy Holdings Limited (“GCL-Poly” or the “Company”, stock code: 3800.HK, together with its subsidiaries, the “Group”) announces that it has established long-term strategic partnership with Hareon Solar Technology Co., Ltd. (“Hareon”), a large-sized photovoltaic products supplier in China. The Company will provide Hareon with high-quality wafers with a total worth of RMB20.8 billion in the coming three years.

Pursuant to the wafer supply contract entered into between GCL (Nanjing) Solar Energy Technology Company Limited, a subsidiary of the Group, and Hareon, the Group will provide high quality solar wafers totaling RMB20.8 billion to Hareon’s solar cell and module production base located in Jiangsu Province, China, commencing from January 2011 to December 2013. A price adjustment mechanism has also been included in the contract.

“For more than two years, Hareon has been maintaining a close business partnership with GCL-Poly. Together, we witnessed our rapid development in our respective fields in recent years. The signing of the long-term wafer supply contract with GCL-Poly is a new milestone in our close partnership. We believe that the contract will further accelerate the development of Hareon’s businesses in the future.” said Mr. Yang Huaijin, President and CEO of Hareon.

Mr. Shu Hua, Executive Director and Executive President of GCL-Poly, stated, “We are pleased to cement a stronger business ties with Hareon, a large-sized photovoltaic products supplier in China. We shall make the best endeavors to deliver our promise of providing the best-in-class wafers to Hareon to underpin its continuous speedy growth. We expect closer collaboration with Hareon going forward to achieve a win-win situation in the fast-growing global solar industry’’.

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