GreenEnergyForEarth.com – Alternative Energy News and Green Products

Sep 26, 2008 – Neo Solar Power, a manufacturer of solar cells, announced it secured a 7-year wafer supply contract with REC ScanWafer AS, a large manufacturer of multicrystalline silicon wafers.  Under the contract, REC will provide NSP solar wafers worth US$442 million) for the period from January 1, 2009 to December 31, 2015.  Adding REC to its well diversified wafer supplier base, NSP expects to further lower supply concentration risk.  REC is recognized for its wafer quality and reliable deliveries and has always been the top wafer supplier to global solar cell manufacturers.  This contract is a major milestone for NSP and effectively improves wafer cost mix to achieve financially rewarding terms.

The Board of Taiwan Stock Exchange had approved NSP’s listing application on September 16, 2008 and NSP is expected to be listed on the main exchange before the end of 2008.