Renewable energy news: LDK and BYD agree £188m polysilicon deal-Renewable Energy Jobs 28 Oct 2010

Renewable energy news: LDK and BYD agree £188m polysilicon deal

People searching for renewable energy careers may wish to hear about a new deal that has been struck between a China-based firm and one of its Asian counterparts.

Under the terms of tie-up confirmed earlier this week by LDK Solar - a leading manufacturer of polysilicon and other products - the organisation will provide BYD, a company based in China which specialises in cars, IT and green energy, with polysilicon for the next two years.

This contract is worth around $300 million (£188 million) and will also involve Berkshire Hathaway, a US-based company that owns ten per cent of BYD.

As of January 2011, LDK will provide monthly shipments of the material to its counterpart until the end of 2012 and Xiaofeng Peng, chairman and chief executive officer of the firm, revealed that a deposit for the agreement has already been paid.

"We are very excited to add BYD, a leading high-tech enterprise that has a strong commitment to the green energy sector, as a key customer," he added.

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