Daqo Inks Long-Term Polysilicon Supply Pact with Wuxi Shangji Automation

High-purity polysilicon manufacturer Daqo New Energy Corp. (Daqo) has entered into a long-term high-purity polysilicon supply agreement with Wuxi Shangji Automation (Shangji), a leading technology equipment manufacturer.

August 25, 2020. By Manu Tayal

High-purity polysilicon manufacturer Daqo New Energy Corp. (Daqo) has entered into a long-term high-purity polysilicon supply agreement with Wuxi Shangji Automation (Shangji), a leading technology equipment manufacturer.

Last year, Shangji has entered into a business in R&D and manufacturing of mono-wafer, which is an intermediate product of widely used high-efficiency mono-crystalline solar photovoltaic (PV) modules. 

Commenting on the deal, Longgen Zhang, Chief Executive Officer of Daqo New Energy, said “we are very excited to strengthen our partnership with Wuxi Shangji Automation, a very important new customer with a visionary strategy in the mono-wafer sector.”

“Mono-crystalline solar products have already dominated the solar PV market thanks to their high-efficiency and competitive overall costs. We will continue to work closely with leading mono wafer manufacturers with our first-class quality and fast-growing capacity to make solar PV a cost competitive, clean, sustainable, and revolutionary energy resource,” Zhang added.

As per the supply pact, the polysilicon maker will provide Shangji with high-purity mono-grade polysilicon in a total amount of 21,600 ~ 32,000 MT with 2,400 ~ 3,200 MT in the period from September to December 2020, 9,600 ~ 14,400 MT in 2021 and 9,600 ~ 14,400 MT in 2022.

However, the actual prices will be negotiated by both parties on a monthly basis as per the market conditions. Also, Shangji will make an advance payment to Daqo New Energy according to the supply agreement.

“We are full of confidence in the consistent growth of the solar PV market and the fast growing demand for high-efficiency mono wafer products. We are very pleased to establish a strategic relationship with Daqo New Energy, one of the most important high-purity mono-grade polysilicon providers in the industry. We will continue to execute our capacity expansion plan in the mono-wafer sector, with Daqo New Energy as one of our key raw material providers, to produce more high-efficiency mono wafer products to address fast growing demand,” commented Jianliang Yang, Chairman of Wuxi Shangji Automation.

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