Moser Baer India Ltd, one of leading optical storage manufacturer, has announced that its subsidiary Moser Baer Photo Voltaic Ltd (MBPV) has signed an agreement with LDK Solar for sale and delivery of high quality multicrystalline silicon wafers.

Under the terms of the agreement, LDK Solar will deliver multicrystalline solar wafers to MBPV for producing PV cells that can generate 640 MW of solar power. MBPV will make a suitable prepayment to LDK Solar reflecting the contract value. The ten-year contract is based on a blend of take-or-pay and market linked pricing mechanism.

China-based, LDK Solar Co. Ltd. is a leading manufacturer of multicrystalline solar wafers which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules.

The delivery of wafers under the new contract is expected from July 2008 and will continue over a ten-year period from the first shipment.

Shares of the company gained Rs 2.60, or 2%, to settle at Rs 162. The total volume of shares traded was 572,095 at the BSE. (Thursday)