ErSol Solar Energy AG

euro adhoc: ersol Solar Energy AG
ersol signs silicon supply contract with Hemlock

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Early this morning, ersol Solar Energy AG (ersol) signed an agreement with Hemlock Semiconductor Corporation (HSC), the world´s largest producer of high purity polycrystalline silicon for the solar and semiconductor industry. This contract is the most extensive to date for the supply of this raw material in the history of the Thuringian solar company. It will enable ersol to generate an additional output of about 1.8 GWp in total from 2010 onwards for ten years. The silicon price has been fixed for the entire term of the contract. It is provided that ersol will make downpayments in the two-digit millions of euros, which will later be offset in the form of a purchase price reduction when the raw material is supplied. These silicon volumes from HSC will form the starting point for ersol´s continued expansion activities beyond the 220 MWp in the crystalline area already forecast by the end of 2008. ersol has not changed in its view that the signing of long-term supply agreements for silicon supplies is the right strategy to counter what the solar company believes will be a sustained shortage of this raw material, and to secure the Company's continued growth as far as possible.

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ots Originaltext: ErSol Solar Energy AG
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Branche: Alternative energy
ISIN:      DE0006627532
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