Wednesday, LDK Solar Co. Ltd. (LDK), a manufacturer of solar wafers, said it has signed a five-year contract to supply multicrystalline solar wafers to India-based XL Telecom & Energy Ltd.
As per the agreement, LDK Solar will deliver around 300 MW of multicrystalline silicon solar wafers to XL Telecom over a five-year period, beginning in the first quarter of 2009 and extending through 2013. XL Telecom & Energy will make a down payment representing a portion of the contract value to LDK Solar.
Xiaofeng Peng, chairman and chief executive officer of LDK Solar, stated, "With this most recent supply contract we are looking forward to expand our presence in India."
Dinesh Kumar, managing director and chief executive officer of XL Telecom, commented, "As we work to achieve our capacity expansion and growth goals to meet the increasing demands of the global photovoltaic market in the coming years, we are very pleased to have LDK Solar as a long-term partner and look forward to their supply, in order to secure an important part of our wafer needs."
LDK closed Tuesday's regular trade at $39.37, up $5.79, on a volume of 11.45 million shares.
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