China Sunergy Signs Solar Cell Agreement with Hitachi

China Sunergy Co., a solar cell manufacturer based in Nanjing, China, has announced that it has entered into a multi-year agreement for a supply of high quality eight inch single crystal silicon ingot with the Japanese Hitachi High-Technologies (HHT) Corp. Under the agreement, HHT will supply a total volume of 1,472 tons of silicon ingot from September 2008 through the end of 2011, which will support the production of approximately 210MW of solar cells during the contractual term. While the pricing has been fixed for the 2008 shipments, China Sunergy and HHT will negotiate the ongoing price of silicon ingot every three months beginning in 2009, within a predetermined pricing range.