NYSE-listed solar wafermanufacturer LDK Solarhas sold $300m in polysilicon wafer products to Hong Kong-listed Berkshire Hathaway company BYD.
The two companies have signed atwo-year polysilicon sales agreement, under which LDK Solar will supplypolysilicon in monthly shipments from January 2011 until 2013, the companysaid.Ten per cent-owned by BerkshireHathaway, BYD specialises in automobiles and green energy.The deposit for the two-year contracthas already been received, according to LDK Solar.
LDK Solar CEO and chairman XiaofengPeng said, ‘This agreement is a testament to the success of LDK’s polysiliconfacilities and our ability to provide customers with quality photovoltaic productsthat can help them achieve their business goals.’
Established in February 1995, BYD’stotal assets approached RMB32.9bn ($4.94bn) with its net assets surpassingRMB13.3bn ($1.99bn) by the end of 2008.