SHANGHAI, Dec. 23, 2010 /PRNewswire/ -- Solarfun Power
Holdings Co., Ltd. ("Solarfun" or the "Company") (Nasdaq: SOLF), a
vertically integrated manufacturer of silicon ingots, wafers and
photovoltaic ("PV") cells and modules in China, today announced that it has signed a
long-term supplementary wafer and polysilicon product supply
contract with GCL-Poly Energy Holdings Limited (3800.HK)
("GCL-Poly"). GCL-Poly will provide Solarfun with a total of
2,500 MW wafer and polysilicon products over the next five
years.
Under the supplementary wafer and polysilicon product supply
contract between Solarfun and GCL (Suzhou) Solar Energy Technology
Company Limited, a subsidiary of GCL-Poly, GCL-Poly will provide a
total of 2,500 MW wafer and polysilicon products from January 2011 to December
2015 to Solarfun. A price adjustment mechanism is included
in the contract.
"By signing this long-term supplementary wafer and polysilicon
contract with GCL-Poly, we are further strengthening the long-term
strategic collaboration between both parties," said Mr.
Peter Xie, President and Chief
Executive Officer of Solarfun. "We expect this to satisfy our
requirements for key raw materials on a cost-effective basis, and
allow us to continue expanding in scale as we meet our growing
customer needs worldwide."
Mr. Shu Hua, Executive Director
and Executive President of GCL-Poly, added, "We are pleased to
maintain our close strategic collaboration with Solarfun, one of
the world's leading solar companies. We will provide high quality
services to support Solarfun's rapid development. We look forward
to achieving a win-win situation with Solarfun in the global solar
industry."
About Solarfun
Solarfun Power Holdings Co. Ltd. (Nasdaq: SOLF) is a leading
manufacturer of solar PV cells and modules in China, focusing on delivering high quality and
reliable products at competitive prices. Solarfun produces its
monocrystalline and polycrystalline products at its internationally
certified, vertically-integrated manufacturing facilities. Solarfun
partners with third-party distributors, OEM manufacturers, and
system integrators to sell its modules into large-scale utility,
commercial and governmental, and residential/small commercial
markets. Solarfun maintains a strong global presence with local
staff throughout Europe,
North America, and Asia. Solarfun embraces environmental
responsibility and sustainability by taking an active role in the
photovoltaic cycle voluntary recycling program. For more
information, visit: www.solarfun-power.com. SOLF-G
About GCL-Poly Energy Holdings Limited
GCL-Poly Energy Holdings Limited (3800. HK) is China's largest polysilicon producer and one
of the world's leading wafer suppliers and also a top green energy
enterprise in China. Annual
polysilicon production capacity is expected to reach
21,000 MT by the end of 2010, and the
quality of polysilicon products has reached electronic grade level.
The Group's wafer production capacity has already achieved 3.5 GW
in November 2010. In addition, the
Group owns a 20 MW solar farm in Xuzhou, Jiangsu province, which is currently the
largest solar farm in China. For
more information about GCL-Poly, please visit the company's website
at www.gcl-poly.com.hk.
For further information, please
contact:
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Investor Contact:
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Paul Combs
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V.P. Strategic Planning
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Building 1, 18th Floor
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1199 Minsheng Road, Shanghai, PRC 200135
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P. R. China
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Tel: 86-21-3852 1533 / Mobile: 86 138
1612 2768
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E-mail: paul.combs@solarfun-power.com
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Christensen
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Kathy Li
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Tel: +1 480 614
3036
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E-mail:
kli@ChristensenIR.com
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Tip Fleming
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Tel: + 852 9212
0684
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E-mail:
tfleming@ChristensenIR.com
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GCL-Poly:
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Wang Manjian
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Tel: +852 37613239
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E-mail: Wangmanjian@gcl-power.com.hk
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Jessy Fang
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Tel: 852 37613281
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E-mail: Jessyfang@gcl-power.com.hk
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SOURCE Solarfun Power Holdings Co., Ltd.