Chinese polysilicon supplier Xinte Energy has announced securing a long term contract to sell 152,400 MT polysilicon to Qinghai Gaojing Solar Energy Technology Co., Ltd. The contract is worth RMB 16.916 billion ($2.6 billion).
It plans to complete the delivery in phases, starting from July 2021 and completing in December 2025, the company shared in a stock exchange filing. The estimated amount under the strategic cooperation sale and purchase agreement is based on the latest price of polysilicon announced by PV InfoLink, it added without sharing the specific price. Prices will be negotiated on a monthly basis.
The TBEA subsidiary Xinte Energy will supply this amount through its subsidiaries Xinjiang Xinte Crystal Silicon Hightech Co., Ltd., and Inner Mongolia Xinte Silicon Materials Co., Ltd. This agreement, it explained, will facilitate the stable sales of polysilicon products in its ordinary course of business, safeguard the daily operations of the group and is in line with its future development. Management also stated that this will further enhance its position in the new energy industry.
The news of this agreement follows a RMB 6 billion 70,350 MT polysilicon supply order it bagged with Wuxi Shangji in January 2021 to be honored till December 2025 that came soon after LONGi placed an order for RMB 19.23 billion for 270,000 MT to be delivered till December 2025 (see RMB 6 Billion Polysilicon Supply Deal For Xinte Energy).
Xinte Energy is also expanding its annual production capacity by 200,000 with a new high-purity polysilicon fab in Baotou City of China (see Xinte Energy To Build 200,000 Tons Polysilicon Fab).
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