SunEdison Terminates Supply Agreement With Gintech Energy

(RTTNews) - SunEdison, Inc. (SUNE) announced that on September 30, 2013, its wholly owned subsidiary, SunEdison Singapore, Pte. Ltd., and Gintech Energy Corp., have terminated a long-term solar wafer supply agreement.

The company noted that under the terms of the supply agreement, originally executed on October 25, 2006 and last amended on April 19, 2011, SunEdison was to supply Gintech with solar wafers for a 10-year period on a take or pay basis beginning in the second half of 2007.

As part of the original supply agreement, Gintech advanced funds to SunEdison in the form of an interest-free loan or security deposit.