Canadian Solar Signs 10-Year Deal with LDK
Canadian Solar Inc. signed a a 10-year supply contract with solar wafer maker LDK Solar Co., strengthening a two-year-old tie between the companies.
LDK is expected to ramp up production later this year.
The new supply deal, which is in addition to an agreement signed in October, calls for China-based LDK to supply 800 megawatts of solar wafers starting next June and continuing through 2018.
With the latest deal, LDK will supply Canadian Solar with a total of 120 megawatts of wafers in 2009 and 170 megawatts in 2010.
In afternoon trading, Canadian Solar shares picked up 2 cents at $40.40. LDK shares fell $1.32, or 3.3 percent, to $38.50.
