Hoku Materials just announced that it has amended a polysilicon supply contract with Shanghai Alex New Energy. Under the amended agreement, polysilcon amounts and financial details will stay the same, but the due date for delivery of the first shipment will be moved from the first quarter of 2010 to the third quarter of 2010.
In a press release, Dustin Shindo, chairman and chief executive officer of Hoku Scientific, commented on the new agreement:
“This … Read the rest
Solutia just announced that its Therminol® D12 and Therminol 66 synthetic heat transfer fluids will be used in LDK’s new 15,000 metric ton polysilicon plant in Xinyu City, China. Solutia’s heat transfer fluids have been used in several solar power-related projects this year, both in the manufacturing of polysilicon and to absorb and transfer energy from sunlight in concentrating solar power plants.
In a press release, Mr. Richard Altice, Vice President of Commercial Services … Read the rest
Renesola (SOL) has announced that the first trial run has been completed at its shiny new plant in China’s Sichuan province. This is the first phase of a two phase, 3000 MT annualized capacity plant which uses the Siemens process and a closed loop to produce the polysilicon. Phase 2 is expected to reach mechanical completion in September.
“The launch of our in-house polysilicon manufacturing facility represents another exciting strategic milestone for ReneSola,” commented … Read the rest
Hoku Scientific (HOKU) reported earnings after the bell yesterday, but it isn’t the earnings that’s driving the stock down this morning, it’s concern that the company won’t be able to raise enough cash to fund construction of its Idaho polysilicon plant and possibly remain in business. The company has a $106 million gap that it’s working to fill through customer pre payments and financing. However, due to a tough credit market, the company is acknowledging … Read the rest
These solar earnings reports really aren’t a surprise anymore. Just more of the same – global economic weakness, credit difficulties, plummeting raw material prices, an inventory glut and so on. From here it’s just a matter of demand picking up to offset the weakness in the cost of the finished product. The important thing to remember is that solar stocks will begin rising long before that equation comes into balance. We’ve seen a good pop … Read the rest
Hoku Materials, Inc just announced that it has signed a new 10-year polysilicon supply agreement with Shanghai Alex New Energy Company, Ltd. Under the contract, Hoku will resell a portion of the polysilicon production capacity it recaptured after amending a contract with Jiangxi Jinko Solar Company. Alex New Energy had been planning to buy Hoku polysilcon indirectly from Jinko, but will now buy directly from Hoku instead.
Hoku has amended the contract with Jinko as … Read the rest
The purchase of a minority stake in Asia Silicon. The company paid $8.1 million to one of Suntech’s existing shareholders to buy a stake in the company. Suntech already has a supply agreement with Asia Silicon to buy up to $1.5 billion worth of high-grade polysilicon from Asia Silicon over the next years.
Zhengrong Shi, Suntech’s chairman and CEO, commented on the deal:
… Read the rest“We are very pleased to cement our relationship with Asia Silicon. Asia
ReneSola (SOL) announced it’s signed a 5 year loan agreement with China Construction Bank to fund the construction of ReneSola’s polysilicon production facility in Meishan, Sichuan.
“We are pleased to announce that we’ve secured additional financing for our Sichuan polysilicon manufacturing facility,” said Charles Bai, ReneSola’s chief financial officer. “The agreement, combined with previously acquired financing, provides ReneSola with approximately 90% of the capital necessary to fund the project to completion. Our ability to secure … Read the rest
LDK Solar held an opening ceremony for Phase I of its 16,000-ton polysilicon project. Construction began on the project in Xinyu City, China in February of last year. The project will eventually produce 16,000 tons of polysilison per year, which will be used to make solar wafers. This will help decrease LDK’s production cost while ensuring a reliable supply. Trading Markets has more details about the project:
… Read the restThe project that broke earth in February 2008
Yingli Green Energy announced last week that it just acquired a polysilicon producer to further its vertical integration strategy. Negotiations are complete, and Yingli now owns Cyber Power Group Limited, the parent company of Fine Silicon Co, Ltd. Yingli paid $77.6 million for the company, which is expected to begin producing polysilicon in the second half of this year. According to JLM Pacific Epoch, Yingli chief financial officer Zongwei Li advised that this purchase … Read the rest