Neo Solar Power (NSP), a Taiwan-based producer of solar cells, has signed a seven-year poly silicon supply contract with Korea-based Hankook Silicon.

Under the terms of contract, Hankook will supply NSP a total of 11,600 tons of poly silicon from the beginning of 2011 to end of 2017.

The signing of this supply contract solidified the long-term strategic alliance between the two parties, and reinforces NSP’s stable material supply in the long-run, the company said.

NSP claims that this long-term cooperation sustains both companies on production capacity and business operation, leading to significant expansion on global presence and a win-win situation.