Daqo gets approval for US$1.66bn fundraise to expand polysilicon output

Facebook
Twitter
LinkedIn
Reddit
Email
The US$1.66 billion will be used for the polysilicon expansion project in Inner Mongolia. Image: Daqo.

Polysilicon producer Daqo New Energy has received approval from the Shanghai Stock Exchange for a private offering on China’s A-share market to support its capacity expansion.

Daqo expects to raise up to RMB11 billion (US$1.66 billion) from the listing of shares in its Xinjiang Daqo subsidiary, supporting its 100,000 metric tons of polysilicon expansion project in Baotou City, Inner Mongolia.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The first phase of the project is set to be completed before the end of the second quarter of 2023.

Last month, Daqo published record quarter results for its Q1 2022, thanks to higher than anticipated average selling prices (ASPs), and will thus accelerate on its expansion plans.

In February 2022, Daqo had signed a long-term supply agreement that had essentially sold out its inventory for the rest of 2022.

10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

July 8, 2025
The Chinese government has moved to curb excessive competition in the PV sector and stabilise pricing as companies report growing losses.
July 7, 2025
Chinese energy giant China Petroleum and Chemical Corporation, also known as Sinopec, has commenced operations at a 7.5MW offshore floating PV plant in China.
July 4, 2025
Chinese PV provider Skycorp Solar Group has announced a solar plant acquisition and development strategy following unanimous board approval.
July 4, 2025
Risen Energy’s mass-produced heterojunction (HJT) modules have reached a cell conversion efficiency of 26.61%, a record figure for the company.
July 2, 2025
Asset management firm Capital Dynamics has secured €110 million (US$129.4 million) in financing for three solar PV projects in Spain.
Premium
July 2, 2025
ANALYSIS: China's leading PV manufacturers are locked in a new round of competition, aiming to outpace each other through record-breaking feats.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK