China's LDK Solar to supply Neo Solar Power

China's LDK Solar (NYSE: LDK) announced its second deal of the month today, signing an agreement to supply multicrystalline solar wafers to Neo Solar Power.

Multicrystalline solar wafers are the principal raw material used to produce solar cells.

Under the terms of the agreement, LDK said it will deliver $495 million worth of wafers to Taiwan-based Neo Solar Power through 2009.

Neo Solar Power, part of Taiwan's Powerchip group, said Powerchip Semiconductor is a key investor in the company.

"As we continue to strategically select new customers for the allocation of our growing wafer capacity, we are particularly excited to develop a relationship with NSP, a quality-oriented player in the solar industry," said Xiaofeng Peng, chairman and CEO of LDK.

On Aug. 16, LDK announced a contract to supply $516 million worth of its wafers to Chuan-Yi Investment, another Taiwan company (see LDK Solar to supply Taiwan's Chuan-Yi).

LDK sells its multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules.

The company also provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers.

LDK's headquarters and manufacturing facilities are in Xinyu City in Jiangxi province.

Neo Solar Power, which specializes in research, development, and manufacture of solar cells, is headquartered in Hu-Kou, Taiwan.

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