Subsidiaries of Daqo New Power have agreed two five-year polysilicon provide agreements with Chinese language photo voltaic manufacturing firms, the newest in quite a lot of important offers signed this 12 months by the corporate.
The offers, the primary for 57,600MT of high-purity mono-grade polysilicon and the second for 137,000MT, have been agreed with unnamed firms and can each be fulfilled till December 2027. Daqo has stated that precise costs shall be negotiated month-to-month in accordance with market circumstances.
“We see our downstream prospects proceed to broaden their capacities to handle the fast-growing photo voltaic PV demand,” stated Longgen Zhang, CEO of Daqo New Power. “It’s the fourth long-term contract we signed with our prospects within the fourth quarter of 2022 and it demonstrates our management within the polysilicon trade as a dependable and most well-liked provider for a lot of top-tier Chinese language photo voltaic producers.”
In October, Daqo New Power signed a separate polysilicon provide settlement for 432,000MT of fabric, price as much as US$18 billion. The corporate additionally closed Q3 of 2022 with web income near US$1 billion. This was pushed partly by the progressive drop in polysilicon manufacturing prices, in addition to the growing world demand for photo voltaic PV modules.
“We’re very effectively positioned to enormously profit from the wholesome and sustainable development within the photo voltaic PV trade,” Zhang added.
Daqo plans to broaden additional with its Inside Mongolia facility set to be full in 2023, growing the corporate’s capability from 105,000MT to 205,000MT.