Conergy Exits $600 Million Solar-Wafer Supply Contract With MEMC

Conergy AG (CGYK), a German solar manufacturer that’s restructuring its operations, canceled a supply agreement with MEMC Electronic Materials Inc. (WFR) and will pay a $21 million early-termination fee to the U.S. provider of polysilicon wafers.

The agreement, which dates to 2007 and was supposed to run until 2018, was worth about $600 million, Hamburg-based Conergy said today in a statement. Conergy no longer produces solar cells and doesn’t need to buy blank wafers.

To contact the reporter on this story: Ehren Goossens in New York at

To contact the editor responsible for this story: Will Wade at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.