NEW YORK (AP) — Chinese manufacturer LDK Solar Co. Ltd. said Monday it signed a contract worth about $534 million to supply solar wafers to solar cell maker Canadian Solar Inc.
Under the terms of the three year deal, LDK will begin delivery of the multicrystalline wafers in 2008, with 50 megawatts worth of capacity slated for the first year.
One megawatt of electricity powers 778 households per year, according to the U.S. Department of Energy.
LDK, located in Xinyu City, China, valued the contract at 4 billion Chinese yuan ($533.5 million). Canadian Solar is based in Suzhou, China.