Daqo pushes US$1.6bn capital injection to accelerate Inner Mongolia polysilicon project

By Carrie Xiao
Facebook
Twitter
LinkedIn
Reddit
Email
An existing polysilicon refinery owned by Daqo New Energy. Image: Daqo New Energy.

Daqo New Energy has provided a RMB10 billion (US$1.6 billion) capital injection to a subsidiary which is to advance on future polysilicon production projects in Inner Mongolia.

The polysilicon producer confirmed the capital increase in a statement issued to the Shanghai Stock Exchange yesterday (3 January 2022), confirming that its Inner Mongolia-based subsidiary would receive the capital injection to advance construction on the first phase of a 100,000MT high-purity polysilicon project which will also produce 1,000 tons of semiconductor-grade polysilicon.

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 capital is to originate from Daqo’s existing funds and lines of financing.

The capital increase follows a proposed strategic agreement with local authorities in Baotou, announced towards the end of last year, which will see Daqo invest in and develop polysilicon and silicon metal production facilities in Baotou, with construction set to start later this quarter.

In total, Daqo has earmarked projects totalling 200,000MT of solar-grade polysilicon, 21,000MT of semiconductor-grade polysilicon, 300,000MT of silicon metal and 200,000MT of silicone output for Baotou.

The strategic framework agreement signed between Daqo and Baotou city was ratified by Daqo’s board on 31 December 2021, allowing the company to proceed with construction of its first phase, which is set to conclude in Q2 2023.

Read Next

August 5, 2025
China’s leading polysilicon firms are reportedly considering shutting down one third of the country’s polysilicon capacity and restructuring the sector, following years of overcapacity and tumbling prices.
July 30, 2025
Spanish solar energy company Soltec has found an investor that will acquire 80% of the company’s shares in a restructuring move.
July 28, 2025
Solar developer Atlas Renewable Energy has secured BRL1 billion (US$179 million) in financing for a 579MW Brazilian solar PV complex.
July 22, 2025
The investigation launched on polysilicon under Section 232 could present the biggest supply chain challenge to the US solar industry, according to analyst Wood Mackenzie.
July 16, 2025
IPP Cero Generation and developer Enso Energy have reached financial close on a 360MW solar-plus-storage portfolio of projects in the UK.
July 15, 2025
The US Department of Commerce (DoC) has initiated an investigation into the imports of polysilicon and its derivatives.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines