(Nasdaq: SPWR) subsidiary PowerLight
Corporation, today announced a 120 megawatt, three-year supply agreement
with JingAo Solar Co., Ltd. ("JingAo"), a privately-owned solar cell
manufacturer based in Hebei, China. The agreement calls for JingAo to deliver
increasing volumes of silicon solar cells to PowerLight beginning in 2007. This
contract is the third in a series of long-term PV cell contracts completed by
PowerLight over the last year.
"We are very pleased to announce this supply agreement with JingAo,"
said Dan Shugar, PowerLight president. "Increasing our solar supply will
allow PowerLight to expand our business faster, especially in large-scale power
plant and commercial applications. We believe that JingAo will be a highly-reliable
supplier, due to strong upstream ingot supply relationships. We look forward
to adding JingAo solar cells to our supply base to complement our other long-term
supply partners and internally-sourced SunPower solar panels."