LDK Solar Co., Ltd., a manufacturer of polysilicon, multicrystalline solar wafers and PV products, announced that it has signed a two-year polysilicon sales agreement valued at approximately $300 million with BYD Company Limited.
BYD is a China-based enterprise specializing in IT, automobiles and green energy that is 10% 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."