REC Silicon said it is entering a 10-year supply agreement with Hanwha Q Cells Georgia for polysilicon made at its Moses Lake, Washington plant, pv magazine USA reported on September 6, 2023. The deal is valued at about $3 billion at current prices.
The deal
- The take-or-pay contract covers high-purity granular polysilicon made with fluidized bed reactor (FBR) technology.
- The polysilicon will feed ingot and wafer production at Qcells’ new Georgia factory, set to start late in 2024.
- Hanwha will make large prepayments at signing and at first delivery to help restart Moses Lake.
- Pricing follows market indices plus a premium for USA-sourced low-carbon material.
REC Silicon expected to restart Moses Lake by November 1, 2023 and reach full capacity by the end of 2024. The deal is part of Qcells’ plan, announced in January 2023, to invest more than $2.5 billion in a complete USA solar supply chain. Hanwha Solutions and an affiliate control 33.3% of REC Silicon.
FAQ
Where is the polysilicon made?
At REC Silicon’s plant in Moses Lake, Washington.
How long is the deal?
Ten years, valued at about $3 billion.
Where will it be used?
At Qcells’ new ingot and wafer factory in Georgia.
Source & credit
Source: pv magazine USA, September 6, 2023: “Qcells to enter into $3 billion supply agreement for U.S.-made polysilicon”.