Daqo ‘sold out’ of polysilicon for 2022 after new 30,000MT deal

Daqo already sold all its polysilicon capacity for the year amid an increasing expansion. Image: Daqo New Energy.

Polysilicon producer Daqo New Energy’s has signed a long-term supply agreement for high-purity mono-grade polysilicon for a total amount of 30,000MT between 2022 and end of 2026, essentially selling out its inventory for this year.

“With this contract and other existing contracts, our available capacity of this year has already been fully booked,” said Longgen Zhang, CEO of Daqo New Energy.

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

Daqo did not disclose the name of the Chinese solar manufacturing company it signed the 30,000MT contract but stated that both volume and prices would be negotiated on a monthly basis between both parties.

Zhang added: “As always, we will focus on our core business by accelerating our capacity expansion and providing high quality products to contribute our effort to the fast-growing solar PV market.”

An expansion that started at the beginning of the year with Daqo New Energy injecting $1.6 billion to a subsidiary in order to increase polysilicon production projects in Inner Mongolia, with a first phase of 100,000MT high-purity polysilicon.

Later in January, Daqo New Energy forecast a five-fold increase profit for its Xinjiang subsidiary as it continued its expansion plans.

Last year, during its Q3 results the company said it targeted to reach a production capacity of 270,000MT by the end of 2024.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Sydney, Australia