Nitol to supply silicon to Trina Solar

Changzhou, China's Trina Solar (NYSE: TSL) said today it signed a long term agreement for the supply of silicon from Nitol Group, a Moscow-based chemical company.

Under the five year contract, Nitol will supply 200 megawatts worth of virgin polysilicon starting in 2009.

"The cooperation with Nitol will enhance our production capabilities in the coming years and further our expansion goals," said Jifan Gao, chairman and CEO Trina Solar.

"Trina Solar has a great deal of confidence in the success of Nitol's polysilicon production capabilities, as Nitol has the potential to become one of the top global manufacturers of polysilicon."

Trina also has an option to purchase polysilicon in 2008 from Nitol from a pool of unallocated production.

The company said Nitol is constructing a polysilicon production facility.

Prior to this contract, Trina said it had secured over 60 percent of its polysilicon requirements for its 2008 planned production.

In July, the company announced four contracts to deliver a total of 88 megawatts to 99 megawatts of modules over the next three years (see First Solar and Trina Solar shine on new orders).

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