China’s Daqo New Energy Corp (NYSE:DQ) said on Monday that one of its subsidiaries has received a five-year contract to supply high-purity polysilicon to a leading solar manufacturer in the country.
The agreement calls for Xinjiang Daqo to supply a total of 148,800 tonnes of high-purity mono-grade polysilicon. Deliveries will take place between January 2023 and December 2027.
Daqo New Energy noted that the actual prices of the supplies will be negotiated on a monthly basis according to the market conditions
"As the overall solar PV demand continues to grow fast and the solar cell technology is expected to rapidly switch to the N-type technology in the next two to three years, we believe that our best-in-class polysilicon product and increasing capacity will enable us to greatly benefit from these trends,” said Longgen Zhang, CEO of Daqo New Energy.
The Chinese manufacturer has a total polysilicon nameplate production capacity of 105,000 tonnes per year. Last month, it unveiled two deals with large domestic solar groups in China, one of which is for the supply of 432,000 tonnes and the other for 150,300 tonnes of mono-grade polysilicon, followed by a deal for 57,600 tonnes early in November.
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