REC Silicon has secured a US$40 million term loan from Hanwha International LLC, a subsidiary of Korean conglomerate and REC majority shareholder, Hanwha Solutions.
The Middle East has become a key market for Chinese PV companies, both as a source of demand for hardware and also as a hotspot for new manufacturing hubs. Carrie Xiao reports on some of the latest developments in the region.
The results continue the downward trend in polysilicon manufacturers’ fortunes as the market faces oversupply, cutthroat competition and prices below the cost of production.