NYSE-listed solar wafer manufacturer LDK Solar has sold $300m in polysilicon wafer products to Hong Kong-listed Berkshire Hathaway company BYD.
The two companies have signed a two-year polysilicon sales agreement, under which LDK Solar will supply polysilicon in monthly shipments from January 2011 until 2013, the company said.Ten per cent-owned by Berkshire Hathaway, BYD specialises in automobiles and green energy.The deposit for the two-year contract has already been received, according to LDK Solar.
LDK Solar CEO and chairman Xiaofeng Peng said, ‘This agreement is a testament to the success of LDK’s polysilicon facilities and our ability to provide customers with quality photovoltaic products that can help them achieve their business goals.’
Established in February 1995, BYD’s total assets approached RMB32.9bn ($4.94bn) with its net assets surpassing RMB13.3bn ($1.99bn) by the end of 2008.