South Korean solar-grade polysilicon producer, Hanwha Solutions is to exit the business by the end of 2020, following OCI’s decision to shutter polysilicon plants in the country.
South Korean polysilicon producer’s have been impacted by high-electricity prices compared to Chinese rivals and a massive expansion of high-purity capacity that has resulted in average selling prices dropping below US$10/kg, below polysilicon production costs in South Korea.
To end loss making, Hanwha Solutions is closing down polysilicon production of at least 15,000MT per annum. Hanwha Chemical originally started producing solar-grade polysilicon in 2013 to support its PV wafer, cell, module operations in China.
PV Tech has also reported that larger rival, Wacker Chemie is to undergo major restructuring of its operations in light of major losses in its polysilicon division in 2019.