Under the terms of the agreement, Solarfun has agreed to supply a total of 47MW of photovoltaic (PV) modules to Schuco at a fixed price to be delivered according to a binding delivery schedule from December 2008 to October 2009.
The PV modules are intended to be installed in major projects in southeast Europe and the Middle East.
Harold Hoskens, CEO of Solarfun, said: This is our largest project contract to date and we are happy to have signed it with Schuco. We look forward to further developing our relationship with them. We are also particularly happy to partner on this project since it gives us the opportunity to diversify our business outside of the more established markets in Europe and introduce our PV modules in significant quantities to southeast Europe and the Middle East, which we believe will be key markets for solar energy in the near future.
