LDK Solar, a manufacturer of polysilicon, multicrystalline solar wafers and photovoltaic (PV) products, has signed a two-year polysilicon sales agreement valued at approximately $300m with China-based BYD company.
Under the agreement, LDK Solar will supply polysilicon to BYD with monthly shipments expected to commence in January 2011 and extend through the end of 2012.
LDK Solar chairman and CEO Xiaofeng Peng said that the company has added BYD, a high-tech enterprise that has a strong commitment to the green energy sector, as a key customer.
BYD is an enterprise specializing in IT, automobiles and green energy that is 10% owned by Berkshire Hathaway.