Canadian Solar, a global solar module manufacturer, has signed a five-year supply contract with solar cell manufacturer Neo Solar Power, for several hundred megawatts of solar cells. The value of the contract is estimated to exceed $500 million.
Canadian Solar (CSI) has stated that the contract will last through 2013. Neo Solar Power (NSP) has been a stable supplier to CSI since March 2007.
Shawn Qu, chairman and CEO of CSI, said: This agreement will help us ensure continued growth over the next five years and is testament to our ability to establish and secure relationships with strategic suppliers across the solar value chain. NSP has been an invaluable supplier to CSI and will be a key partner for us in the execution of our flexible vertical integration model and balanced supply strategy in the future.