Indosolar signs $200m wafer supply contract with Osung LST

Indosolar – a solar cell manufacturer located in Greater Noida, India – has signed a $200 million wafer supply agreement with Korea’s Osung LST.

The contract will run until 2018 and will see the Korean wafer producer supply 48 million wafers to Indosolar in the first fiscal year alone as the company seeks to ramp up its manufacturing capacity as part of India’s wider strategy to boost its domestic solar sector.

Indosolar currently boasts a capacity of 450 MWp at its fab in the state of Uttar Pradesh, where it runs four production lines manufacturing c-Si solar cells with an average efficiency of 17.40%.

"I am delighted to partner with Osung Korea for the supply of efficient wafers, Indosolar’s core raw material," said Indosolar chairman, B K Gupta. "This landmark contract strengthens our enduring relationship and we look forward to expanding our strategic cooperation and delivering super high efficiency PV cells to the Indian and international markets."

Indosolar’s peak cell efficiency is 18%, and the company has long been a champion of boosting India’s domestic manufacturing capabilities. Indosolar was one of a handful of Indian solar companies to bring the anti-dumping case against Chinese, Taiwanese, Malaysian and U.S. solar cells and modules last year, claiming that India was drowning under a flood of dumped solar components that were harming domestic manufacturers.