SunSi signs LOI to buy majority interest in He Xie Silicon TCS facility; plans to increase capacity

Facebook
Twitter
LinkedIn
Reddit
Email

SunSi Energies has signed a letter of intent to buy 60% equity interest in Wendeng He Xie Silicon, a trichlorosilane (TCS) facility with an annual production capacity of 20,000MT located in Weihai City, China. Under the terms of the deal, SunSi will also increase the plant’s capacity to 60,000MT.

The existing shareholder of He Xie will contribute to the expansion in order to maintain its equity interest of 40% in the company, as well as provide the technology and the technical assistance and expertise for the construction, training, and operation of the facility and its expansion. All current management and employees will remain in place.

The companies said that due diligence and a full audit are already under way. SunSi expects the transaction to close within three months, with the expansion efforts set to begin in March 2011 and be completed in January 2012.

Further financial terms of the deal were not disclosed.

Michel Laporte, chairman/CEO of the pure-play TCS company, said: “During the past few months, we have worked toward building our production capacity by targeting an existing acquisition of a solid TCS production facility that held a tactical position and expertise. He Xie offers everything we could have hoped for in a company.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Read Next

July 22, 2024
Renewable energy developer Acen Australia has submitted the scoping report for its 100MW solar-plus-storage project in New South Wales.
July 19, 2024
US solar manufacturer First Solar has started an investigation into several crystalline-silicon cell solar manufacturers for potential infringement of its patents.
July 19, 2024
Investment fund Quinbrook Infrastructure Partners and its subsidiary Primergy Solar have reached commercial operations at their 690MWac/966MWdc Gemini solar-plus-storage project in Nevada.
July 19, 2024
The Energy Storage for Resilient Homes Act would allow residents of the two states to use funding from the Federal Emergency Management Agency (FEMA) to purchase residential BESS.
July 19, 2024
SunPower said the decision was not made "lightly" and will consider options to support its mutual customers and collective business pipeline.
July 19, 2024
Sungrow has signed an agreement with Hero Group's renewables arm Hero Future Energies to supply 850MW of inverters.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA