REC Silicon confident over Moses Lake restart amidst strengthening PV poly demand

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
REC Silicon suspended production at Moses Lake in Q2 2019 following difficult trading conditions and a trade dispute with China. Image: REC Silicon.

European polysilicon provider REC Silicon has pinned hopes on plans to develop an ultra-low carbon solar PV value chain amidst a strengthening polysilicon market, stating it is confident that it will restart production at its Moses Lake facility.  

Reporting its Q1 2021 results today, REC Silicon recorded revenues of US$28.1 million, down more than 20% sequentially on the US$36 million recorded in Q4 2020. Earnings however more than doubled sequentially to US$4 million.

The Oslo-headquartered company reported growth in its semiconductor materials segment, with earnings contributed by the division rising by 35% year-on-year to US$10.8 million on the back of surging demand for the material. Revenue from the business’ solar materials segment however continued to be paltry, actually halving year-on-year in the first quarter to around US$100,000, however losses were also reduced to US$1.9 million. Solar polysilicon sales in Q1 2021 stood at 47MT.

Tore Torvund, CEO at REC Silicon, lamented the company’s inability to cater for much of the demand for solar PV polysilicon due to trade disputes with China. Instead, REC Silicon is throwing its weight behind initiatives to develop an “ultra-low carbon footprint” PV value chain with other solar manufacturers, as well as the US government.

Late last year REC Silicon was revealed to be a partner of Violet Power, a US-based PV manufacturing start-up with facilities also planned in Moses Lake, Washington. REC Silicon was to partner with the Violet Power on its wafering operations, however the contract was abruptly cancelled in April this year, with both sides claiming to have terminated the deal.

Torvund added that the company intends to restart its Moses Lake facility – shuttered in 2019 – in 2023, with a formal decision expected later this year. REC Silicon specifically pointed to recent policy initiatives by the Biden-Harris administration to incentivise domestic manufacturing and the strengthening of US-based supply chains for key industries such as solar PV.

Furthermore, REC Silicon revealed that Group14 Technologies, an upstream manufacturer of silicon-carbon composite materials used in lithium-ion batteries, had begun operating a battery materials pilot plant at the Moses Lake facility, producing silicon anodes for use in batteries.

Read Next

June 15, 2021
Xinte Energy has unveiled plans to sell nearly 180 million shares in the company to raise funds for a new 100,000 ton polysilicon production facility.
PV Tech Premium
June 10, 2021
In the second part of a two-part feature on the solar industry’s response to polysilicon price increases, Carrie Xiao hears from industry leaders about the importance of technology innovation, efforts to reduce waste and the need to avoid cutting prices blindly just to appease customers.
June 9, 2021
In the face of rising materials costs and natural disasters impacting output, solar manufacturers should heighten their focus on insurance placement to protect against large losses, a Chinese insurance broker has told PV Tech.
PV Tech Premium
June 9, 2021
Price increases in polysilicon and other auxiliary solar module materials have exerted much pressure on manufacturers, JA Solar has said, impacting on profitability in the first half of 2021. Xinming Huang, senior vice president at JA Solar, tells PV Tech how the company is responding.
PV Tech Premium
June 7, 2021
Soaring polysilicon costs have tipped the solar manufacturing industry to the brink of crisis and while only expected to be in the short-term, the ramifications in 2021 could be significant. On the sidelines of SNEC 2021, Carrie Xiao speaks to experts from across the value chain to determine how solar PV can tackle supply chain constraints.
Live
June 3, 2021
PV Tech reports live from the show floor at SNEC PV Power Expo 2021, bringing you exclusive video interviews, insight, analysis and product reviews. Today's videos include Sungrow FPV, Seraphim, Growatt and more.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021