October 26, 2006 – MEMC Electronic Materials Inc. said it has signed a deal to supply solar-grade solar wafers to Taiwan’s Gintech Energy Corp. over a 10-year period beginning in 2H07. With this deal, MEMC has agreements to supply solar wafers worth roughly $7-$9 billion in revenue over the next decade, noted MEMC CEO Nabeel Gareeb.

The supply agreement, structured on a “take or pay basis,” is expected to generate $2.5-$3.0 billion in revenues for MEMC. Gintech will also help fund expansion of MEMC’s manufacturing capacity, and provide eligibility for MEMC to purchase a 10% interest, as well as acquire rights to a 1.7 hectare parcel of land in the Hsinchu Science Park.