LONGi safeguards significant polysilicon supply deal from OCI Malaysia and 46GW of solar glass from Flat Glass

• Leading monocrystalline wafer manufacturer LONGi Green Energy has authorized a three-year high-purity polysilicon supply deal from OCI Malaysia, while protecting 46GW of PV glass from China's Flat Glass Co

The handle FLat will lock in glass availability for LONGi Solar's module assembly plants.

According to the arrangement, the material purchase starts from March 2021, will run through throughout of 2024 as well as deserves about RMB6.36 billion (US$ 988.2 million), based upon current ASPs of RMB92,500/ MT (US$ 14,373.84).

LONGi has been securing a variety of key polysilicon supply agreements as a result of polysilicon capability restraints in China and also the expanding customer demand for p-type mono wafers.

LONGi subsidiary as well as significant 'Solar Module Super Organization' (SMSL) participant LONGi Solar has targets of shipping around 45GW of PV modules in 2021.

46GW solar level glass contract

LONGi Solar has actually likewise introduced a brand-new solar level glass procurement agreement with Flat Glass Group, securing front glass (3.2 mm density) and also back glass (2.0 mm thickness) capable of supporting 46GW of PV module manufacturing between 2022 to the end of 2023, worth roughly RMB10.4 billion (US$ 1.62 billion).

The glass supply is for LONGi Solar's 13 module setting up subsidiaries, consisting of operations in Vietnam.

Solar glass has been in short supply considering that the second-half of 2020, due to Chinese government restrictions on new ability developments, due to general building glass overcapacity of around 30%, contrasted to demand.

However, restrictions were lifted specifically for solar particular glass dimensions and also densities, due to the chronic shortages that limited PV module deliveries given that. New capacity is expected to find on-stream later on in 2021 and beyond to meet expanding need and decrease ASPs which have actually caused benefit margin decrease for a variety of PV module producers.