LONGi on July 16 announced that it has inked contracts with the Vietnamese PV Cell manufacturer Vina Solar for the supply of 1.31 billion mono-si wafers. The deal, which is valued at US$540 million, is equivalent to 17% of the company's entire 2018 sales, according to the company.
The contracts are valid from July 1, 2019 through December 31, 2021. The shipment volume is expected to reach 254 million pieces in 2019. The unit price for the deals stands at US$0.415/piece, which is higher than the official quote of US$0.405/ piece on the company's website.
Both the Chinese company and its customer will sign monthly sales orders during the contract period to determine the actual monthly shipment volume. The contracts will help LONGi stabilize its business and expand its market share.