LONGi Bags Mono Wafer Supply Deal With Vina Solar

Vietnamese Solar Cell Maker Vina Solar Signs Up LONGi Green Energy To Supply $540 Million Worth Mono Wafer Capacity Between July 2019 & December 2021
10:23 AM (Beijing Time) - 24. July 2019
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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

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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Anu Bhambhani