SunPower has signed a polysilicon purchase agreement with NorSun and another with NorSun and its partners who are forming a joint venture company to construct a new polysilicon plant in Saudi Arabia. Each agreement anticipates polysilicon delivery to begin in 2010 and extend through 2019.
PM Pai, COO of SunPower, said: SunPower continues to develop new sources of polysilicon. We are building a diverse portfolio of intermediate and long-term silicon supply contracts that support SunPower’s cost reduction roadmap. Economies of scale in our supply chain, manufacturing and channel development will drive down installed solar system costs by 50% by 2012.
