REC Silicon and Mississippi Silicon have entered into a memorandum of understanding (MOU) that commits the companies to negotiate a raw material supply agreement and help establish a low-carbon and traceable US solar supply chain.
The agreement comes days after the passage into law of the Inflation Reduction Act (IRA) by US President Joe Biden which features manufacturing support included in the Solar Energy Manufacturing for America Act, first proposed by Senator Jon Ossoff last year.
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“We are hopeful that with the passage of the Inflation Reduction Act which includes SEMA, the entire solar supply chain in the US will be fully established and placed in a position to flourish,” said James May, CEO of REC Silicon.
Moreover, last week, May said the planned reopening of the company’s Moses Lake polysilicon production facility is “underpinned” by the passage of the IRA.
The Moses Lake facility is due to restart production in Q4 2023 and was enabled by Hanwha Solutions’ investment earlier this year.
REC Silicon also announced last month it will negotiate a raw material supply agreement with silicon metal provider Ferroglobe.