Silicon supplies producer REC Silicon has concluded a 10-year settlement with South Korean conglomerate Hanwha Options to supply fluidised mattress reactor (FBR) polysilicon.
The corporate’s subsidiary REC Photo voltaic Grade Silicon LLC entered right into a binding time period sheet with Hanwha Options for a 10-year take-or-pay offtake for FBR polysilicon produced at an idle facility at Moses Lake, Washington. The offtake is to supply for your entire FBR manufacturing to Hanwha Options from the ability.
The bottom worth for the offtake can be decided by market indices adjusted for a premium for US-sourced low-carbon materials. Additionally it is topic to each a minimal and most that protects REC Silicon in opposition to potential future low market costs that would in any other case threaten the long-term prospects for the corporate.
“Securing offtake of manufacturing volumes has been a prerequisite for the reopening of the Moses Lake facility, and it marks a milestone to have this in place. We proceed to maneuver ahead with our plan for a restart of the ability in This fall 2023 with an ambition to succeed in full capability utilisation by the top of 2024,” stated Kurt Levens, CEO of REC Silicon.
It’s anticipated {that a} full type settlement together with all operational particulars can be entered by each firms within the coming months.
