REC Silicon is to extend and existing polysilicon supply contract with an existing unnamed customer by two years.
The company said that electronic grade polysilicon prices remained weak, and that it expected pricing pressure to continue in 2014. Polysilicon prices have remained flat at around US$17/kg throughout 2013, despite the majority of tier 1 PV manufacturers returning to full utilisation.
“We are very pleased to see the continued confidence in REC Silicon's superior electronic grade polysilicon” said, Tore Torvund, CEO of REC Silicon.
The company noted that polysilicon shipments under the customer extended supply contract would start at the beginning of 2014, and had an estimated sales value of US$70 million.