LONGi Solar Signs Long Term Solar Glass Purchase Agreement With Xinyi Solar

PVTIME – On August 9, LONGi Solar entered into a long term solar glass purchase agreement with Xinyi Solar (Hong Kong) for the procurement of specified solar glass products.

According to the agreement, LONGi Solar and its designated affiliates will purchase photovoltaic glass from Xinyi Solar (Hong Kong) and its designated affiliates from September 2021 to December 2024. The quantity of photovoltaic glass shall be no less than 35% of the estimated annual demand of LONGi Solar. The specific procurement price shall be discussed monthly and the total contract amount shall be subject to the final actual transaction amount.

The announcement states that beginning 2022, both parties will negotiate in the fourth quarter of each year with regards to whether the content of the agreement needs to be updated and extended for one year, so as to maintain the three-year rolling validity of the agreement. If both parties fail to reach an agreement, the terms of the agreement shall automatically continue for one year and then terminate.