LONGi protects major 270,000 MT polysilicon supply from Xinte Energy

• Leading monocrystalline wafer manufacturer, LONGi Green Energy (LONGi Group) has actually safeguarded a minimal 270,000 MT of polysilicon supply from Xinte Energy over a five-year period.

Currently a polysilicon supplier to LONGi Group, an existing supply deal, developed in July 2018 has been cancelled. The initial deal was for 91,080 MT of polysilicon and also was readied to last in between January 2019 to December 2021, averaging around 30,360 MT per year.

The dramatically bigger bargain that changes the previous supply bargain standards around 54,000 MT per annum and is anticipated to be worth around US$ 2.94 billion in revenue to Xinte Energy, compared to around US$ 1.23 billion in the previous deal.

The average purchase rate of the new supply deal was claimed to RMB 80,500/ MT, contrasted to RMB 88,100/ MT in the previous offer. The average price of dense polysilicon used in monocrystalline wafer manufacturing had been RMB 66,200/ MT in the initial half of 2020, representing a 14.4% decrease, year-on-year.

Xinte Energy kept in mind that the new deal would certainly provide the stable sale of polysilicon and also safeguard the day-to-day procedures of the company, along with part of its business advancement strategy to better improve its position in the brand-new energy market.