Indosolar inks Rs 1250-cr wafer supply pact with Korea's Osung LST

Noida-based Indosolar Ltd, a manufacturer of solar photovoltaic cells, has entered into a wafer purchase agreement with Korea's Osung LST Co for Rs 1250 crore till 2018. The wafer supply contract, signed on 28 January 2015 as part of the $ 200 million agreement, covers a significant portion of Indosolar's solar photovoltaic cell demand for FY 2015-16 of 48 million wafers at approximately $ 45 million (Rs 260 crore).
 
B K Gupta, chairman of Indosolar, said, “I am delighted to partner with Osung Korea for the supply of efficient wafers, Indosolar's core raw material. This landmark contract strengthens our enduring relationship and we look forward to expanding our strategic cooperation and delivering super high efficiency photovoltaic cells to the Indian and international markets."
 
Indosolar Limited’s current manufacturing capacity is 450 MWp with an average efficiency rating of 17.40%, peaking at 18.00%. Located in Greater Noida, Uttar Pradesh, Indosolar’s facility accommodates up to four production lines.