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MEMC Electronic (WFR) Signs $3 billion Solar Wafer Deal
MEMC Electronic Materials, Inc. has announced the signing of an agreement for the supply of solar wafers to the value of over $3 billion to Tainergy Tech Co., Ltd., a Taiwan-based solar cell manufacturer. Agreement is for next 10 years starting in the third quarter of 2008.
The price of the wafers has been pre-determined, allowing for an estimate of the value of the deal. Tainergy and MEMC have agreed an advance in funds to MEMC via a refundable capacity reservation deposit. MEMC has also been presented with the opportunity to purchase a 10% interest in Tainergy.
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