LONGi said the $540 million deal for 254 million wafer pieces will have prices determined on a monthly basis. (Photo Credit: LONGi Green Energy Technology Co., Ltd.)
Key Takeaways
- LONGi Green Energy has secured a long-term deal to supply mono wafers to a Vietnamese company
- Vina Solar will pay $540 million to buy 254 million pieces of mono wafer from LONGi
- Deal needs to be completed between July 1, 2019 and December 31, 2021
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Chinese solar wafer manufacturer LONGi Green Energy will supply 254 million pieces of mono wafers to Vietnamese solar cell manufacturer Vina Solar for around $540 million. The actual price will be determined on a monthly basis.
The entire contract capacity is to be shipped between July 1, 2019 to December 31, 2021.
A year back, LONGi bagged a $600 million module supply contract with an unidentified American ground solar power plant developer for its high-efficiency single crystal modules (see LONGi Bags $600 Million Module Supply Contract).
In April 2019, LONGi announced plans to develop 15 GW of new ingot and wafer facility along with a 3 GW monocrystalline solar cell fab in China’s Yinchuan City (see LONGi Plans 18 GW New Capacity).
In another announcement made to Shanghai Stock Exchange, LONGi said during H1/2019, it expects to report 50% to 60% increase in net profit attributable to shareholders of listed companies amounting to RMB 1.961 billion to RMB 2.091 billion ($285 million to 304 million), as per preliminary unaudited assessment.
Anu Bhambhani
Anu Bhambhani is the Senior News Editor of TaiyangNews
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