PVTIME – REC Solar Grade Silicon LLC (REC Silicon), a subsidiary of Silicon ASA, and Hanhua Q Cells Georiga, Inc. (Hanhua), a wholly owned subsidiary of Hanhua Solutions, have entered into a full form supply agreement for high purity granular polysilicon on 6 September 2023.
Under this 10-year take-or-pay supply agreement, REC Silicon will supply Huanhua Qcells with high-purity granular polysilicon produced at its Moses Lake, Washington manufacturing facility using its proprietary FBR process. The new agreement replaces the binding term sheet previously announced on 31 January 2023.
The total value of the agreement is estimated at approximately $3 billion, which will fluctuate based on market prices over the duration of the supply. The company said the Moses Lake plant was idled in 2019 due to reduced capacity at REC’s silicon customers outside of China as a result of Chinese tariffs on US-produced polysilicon. In order to support the restart of the Moses Lake plant, Hanhua will make significant upfront payments at the signing of the agreement and at the time of the first delivery.
, a subsidiary of Silicon ASA, and Hanhua Q Cells Georiga, Inc. (Hanhua), a wholly owned subsidiary of Hanhua Solutions, have entered…){kind=link}