Updated at 11:06 a.m., Tuesday, February 6, 2007
Hoku Scientific expands deal with German solar firm
Advertiser Staff
Hoku Scientific Inc. today said it expanded a prior supply agreement with Solar-Fabrik AG, a German maker of solar power products.The companies have increased the total amount of their planned contract to approximately $175 million, and extended a deadline to finalize a polysilicon supply agreement. The supply agreement was originally expected to generate $120 million to $140 million in sales for Hoku over several years, starting in roughly two years.
Under the terms of a nonbinding memorandum of understanding, Hoku will supply polysilicon chunks to Solar-Fabrik over a fixed number of years, with predetermined prices on a non-cancelable order.
Hoku plans to manufacture the polysilicon chunks at a new facility it is planning in Idaho.
