GCL-Poly Energy Holdings Limited (HKG:3800) Subsidiary GCL Solar Extends Polysilicon And Wafer Supply Agreement With Trina Solar (NYSE:TSL)

Hong Kong, Oct 2, 2009 AEST (ABN Newswire) - GCL Solar Energy Technology Holdings Inc. ("GCL Solar"), a subsidiary of GCL-Poly Energy Holdings Limited (HKG:3800), today announced that it has extended its long-term polysilicon and wafer supply agreement with Trina Solar Limited (NYSE:TSL).

Under the adjusted terms of this agreement, the total consideration will remain unchanged from the combined total of the original and supplemental agreements signed in 2008, whereas additional polysilicon and wafer deliveries will be provided starting in 2016 for a five year period at pre-determined shipment volumes and prices. The agreement also contains a price adjustment clause that offers a market-linked price formula. GCL Solar will supply Trina Solar with high-quality polysilicon and wafers sufficient to produce approximately 8,500 MW of solar modules over 13 years.

Mr. ZHU Gong Shan, Executive Director, Chairman and CEO of GCL-Poly, said, "We are delighted to be able to further strengthen our relationship with Trina Solar by increasing the polysilicon and wafer shipment volume and extending the tenure of the supply agreement. This signifies Trina Solar's confidence in GCL Solar as a long-term strategic partner and also provides a strong testimony to GCL Solar's superior product quality and satisfactory customer services. We are dedicated to ensure timely delivery of high-quality and cost-competitive polysilicon and wafers to our customers and will strive to become Trina's most reliable raw material supplier going forward."

"We are very pleased to strengthen our long-term relationship with GCL-Poly by further extending the tenure of the agreement," said Jifan Gao, Trina Solar's Chairman and CEO. "This extension will provide a stable source of high-quality materials as well as support our cost reduction initiatives to solidify our position as a high-quality global integrated PV manufacturer."

Contact

Press Enquiry: GCL-Poly Energy Holdings Limited: Mr. Zhou Jiangbo Tel: +852-3761-3120 Email: zhoujiangbo@gcl-power.com.hk Ms. Stephanie Lau Tel: +852-3761-3145 Email: stephanielau@gclsolarenergy.com Porda International (Finance) PR Group Ms. Harriet Lau Tel: (852) 3150 6761 Email: harriet.lau@pordafinance.com.hk Ms. Sharis Siu Tel: (852) 3150 6771 Email: sharis.siu@pordafinance.com.hk Ms. Ada Leung Tel: (852) 3150 6732 Email: ada.leung@pordafinance.com.hk