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Biz News Korea(Eng)
OCI signs $1bn polysilicon supply contract with Longi Solar
- Collected
- 2018.02.06
- Distributed
- 2018.02.07
- Source
- Go Direct
Longi Solar has a plan to expand its solar power plant facilities to 28GW by 2018 and 45GW by 2020.
The contract to be effective until Feb. 28, 2021 marks the largest long-term supply contract that OCI has achieved since 2011. At 2:35 p.m. Tuesday, shares of OCI were up 3.6 percent at 157,000 won amid broad losses on the Korean bourse.
The latest deal will bring OCI a stable channel for supply of polysilicon products from the company’s Korean ad Malaysian sites.
Polysilicon is a small silicon crystal material that converts light energy into electrical energy.
"Demand for high-performance solar cells in the Chinese PV market is growing, and this deal was won thanks to our ability to supply polysilicon for high-efficiency single crystal wafers," said an OCI official.
The latest contract was achieved just weeks after OCI won another long-term deal to supply polysilicon worth $326 million to China’s silicon producer Jinko Solar by the end of 2019.
By Moon Ji-woong and Minu Kim
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