China's Xinte Energy inks USD-2.6 bn deal to market polysilicon
- Chinese solar items maker Xinte Energy Co Ltd (HKG:1799) stated that it has authorized an agreement to offer 152,400 tonnes of polysilicon to Qinghai Gaojing Solar Energy Technology Co Ltd
The sale and also purchase agreement covers a duration from July 2021 to December 2025. The cost of the orders will negotiated on a regular monthly basis.
The overall worth of the deal is approximated at around CNY 16.916 billion (USD 2.6 bn/EUR 2.2 bn), consisting of tax, based upon the most recent price of polysilicon announced by PVInfoLink, Xinte Energy stated.
2 months ago, the company signed a comparable contract to provide 70,350 tonnes of polysilicon to PV tools maker Wuxi Shangji Automation Co Ltd (SHA:603185).
Xinte Energy is wanting to increase the polysilicon production capacity with the building of a 100,000-tonne-per-year plant in Inner Mongolia. The board recently offered its green light to the proposition to construct the plant, but said the needed investment would certainly need the approval from the investors as well.
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