Silicor Materials to produce solar silicon in Iceland

July 15, 2014
Facebook
Twitter
LinkedIn
Reddit
Email

Solar silicon materials producer, Silicor Materials is to establish a 19,000MT plant in Iceland to convert metallurgical-grade silicon (MG-Si) feedstock to purified solar grade silicon that it claims can be produced at US$9/kg.

The small US-based company is tapping banks, ports, equipment and electricity suppliers in Iceland to support the building and operating of the planned facility that will located at the port of Grundartangi and initially employ 100 construction workers and around 400 full-time employees.

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

Unspecified financing requirements are being sought from Arion Bank, said to be one of the largest banks in the country, while Centra Corporate Finance is tasked with raising equity finance for the project. Location incentive packages were said to be ongoing with Iceland’s Ministry of Industries and Innovation.

Silicor also said it had has obtained heads of terms, and a letter of intent from Landsvirkjun and Orka Náttúrunnar (ON Power) respectively, two of Iceland’s largest power producers, to supply plant operations.

SMS Siemag, a machinery and plant construction expert for the steel, aluminum and metallurgical-grade silicon industries, has signed on to supply the majority of the facility’s production equipment, according to Silicor.

“When we consider the potential sites for our first commercial-scale plant, Iceland is a leading candidate for a number of reasons,” said Theresa Jester, CEO of Silicor Materials. “In addition to its world-class manufacturing and transportation infrastructure, the country provides low-cost renewable energy, enabling Silicor to produce the only truly ‘green’ silicon in the world. Further, Iceland ranks among the top aluminum producers worldwide, providing Silicor with a built-in market for its premium aluminum-based products. With the support of Arion Bank, we are well positioned to bring venture to realisation.”

Subject to final agreements, Silicor said it wanted to break ground later in 2014 and have construction and initial production in 2016.

Iceland benefits from very low electricity costs due to thermal power plants and has been touted as a location for both polysilicon and semiconductor manufacturing due to high energy consumption requirements. 

Read Next

November 5, 2025
South Africa aims to add 28.7GW of new solar PV generation capacity by 2039, and generate over half of its electricity with renewables by 2042.
November 5, 2025
Kiwa PVEL examines the increased number of delamination issues and how a different BOM can impact a module's reliability.
November 5, 2025
Voltec Solar has signed a supply deal to use solar cells produced by Toyo Solar in its solar modules produced in France.
November 5, 2025
IPP Sol Systems has selected Solv Energy as the EPC services provider for a 209MW solar PV plant in Texas, US. 
November 5, 2025
The Spanish government has approved a royal decree aimed at strengthening the power grid's resilience, robustness and stability in response to the nationwide blackout in April.
Sponsored
November 5, 2025
PV Tech spoke with Symons Xie, general manager of Anker SOLIX APAC, at All-Energy Australia 2025, where the organisation outlined its strategy for establishing a major presence in Australia's rapidly growing home battery and energy storage market.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany