Samsung lowers its stake in polysilicon plant JV with SunEdison

Facebook
Twitter
LinkedIn
Reddit
Email

As part of the expected IPO of SunEdison’s semiconductor wafer and polysilicon operations into SunEdison Semiconductor Limited (SSL), Samsung Fine Chemicals is planning to purchase US$100 million in shares in the spin-off company in private placement.

However, SunEdison will also purchase from Samsung Fine Chemicals shares representing a 35% interest in SMP, its fluidized bed reactor (FBR) based polysilicon joint venture production plant being constructed in Ulsan, Korea.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

SMP was originally established in 2011 as a 50/50 joint venture, part of SunEdison’s ‘asset-lite’ manufacturing strategy.

The latest transaction will see Samsung Fine Chemicals stake in the new plant fall to only 15%, yet its investment has been equal with that of SunEdison. Samsung Fine Chemicals said that it would be focusing its business in other industry sectors in the future.

Separately, Samsung Electronics has entered into an agreement with SunEdison spin-off, SSL which will purchase Samsung Electronics' remaining 20% interest in MEMC Korea Company, in exchange for the issuance by SSL to Samsung Electronics of ordinary shares through a private placement concurrent with SSL's IPO. 

“Through continued cooperation and a long-standing relationship with Samsung Fine Chemicals and Samsung Electronics, the respective companies and SunEdison have agreed to these mutually beneficial transactions,” stated Brian Wuebbels, Chief Financial Officer of SunEdison. “Through SMP, SSL will be able to supply nearly all of its requirements for low-cost, high-quality granular polysilicon internally, and will gain a key customer as an investor.”

SunEdison noted in its recently published 2013 Annual Report that its total cash commitments to SMP JV had reached US$116.2 million and expected to invest a total of US$185.0 million through 2014, which is US$10 million higher than the company expected to contribute in that timeframe as reported in its 2012 Annual Report.

The company also confirmed that the new polysilicon plant had experienced further delays than expected with completion of the plant expected in the in the second half of 2014.
 

Read Next

September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.
September 11, 2025
Madison Energy Infrastructure has raised US$800 million to accelerate the deployment of clean energy assets across the US. 
September 11, 2025
The PEARL Consortium has developed perovskite solar cells with carbon electrodes with a conversion efficiency of 21.6%.
September 11, 2025
The EBRD has launched a new programme to improve access to green financing and support energy investments such as renewable power projects.
September 11, 2025
Constant Energy has secured THB300 million (US$9.4 million) in green financing from HSBC to expand large-scale solar and battery storage projects in Thailand. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines