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Polysilicon producer Hoku Materials has received the second tranche of $30 million for a total loan amount of $50 million from Tianwei New Energy Holdings, a vertically integrated solar manufacturer based in China. Hoku also confirmed that it had received $4 million in polysilicon prepayments on March 1 from Solarfun Power, pursuant to the PV company's sales agreement with Hoku.

Hoku Materials and Jinko Solar have amended their polysilicon supply agreement. The companies said that, according to the terms of the amendment, both have agreed to reduce the term of the sales agreement by one year and to delay the first shipment date from Hoku's Pocatello, ID, plant from December 2009 to December 2010.

Troubled polysilicon startup Hoku Materials is exploring debt and equity financing alternatives with its financial and strategic investors and has also retained Deutsche Bank as an advisor to seek a possible sale. The company, a wholly owned subsidiary of Hoku Scientific, has also ordered the temporary slowdown of construction and procurement activity at the polysilicon production facility under development in Pocatello, ID, to preserve cash and value during its financial investigations, although the company says it has no plan to lay off staff.