(12 January 2011, Hong Kong) GCL-Poly Energy Holdings Limited (“GCL-Poly”, he “Company” or the “Group”; stock code: 3800.HK) is pleased to announce that it as signed a long-term supplementary contract with Canadian Solar Inc., “Canadian Solar”, Nasdaq: CSIQ), the largest and world leading ertically-integrated manufacturer of PV modules, to supply wafer and polysilicon roducts. The Company will provide Canadian Solar with a total of 5,200MW of afer and polysilicon products over the next five years.
Under the supplementary contract signed between CSI Cells Co. Ltd., a ubsidiary of Canadian Solar and GCL (Suzhou) Solar Energy Technology Co., td., a subsidiary of the Group, the Group will provide a total of 5,200MW of wafer and olysilicon products from January 2011 to December 2015. A price adjustment echanism is included in the contract.
Mr. Shu Hua, the Executive Director and President of GCL-Poly, stated, “We ontinuously develop and deepen our long-term strategic partnership with anadian Solar, one of the world’s leading solar companies. We will honour our commitment f supplying high quality wafer and polysilicon products for Canadian Solar to upport its global development strategy, and look forward to achieving a win-win ituation with Canadian Solar in the global solar industry.”
Mr. Xiaohu Wang, Vice President of CSI Cells Co. Ltd., said, “Canadian Solar nd GCL-Poly have maintained long-term and stable cooperation. The signing of he long-term supplementary supply contract with GCL-Poly further cements the ong-term strategic partnership with each other. It will greatly ensure the rapid evelopment of all Canadian Solar’s range of businesses in the future and maintain ts global competitive advantage.”