Major China-based polysilicon producer Xinte Energy has secured a major polysilicon supply contract with a new entity, Qinghai Gaojing Solar Energy Technology Co, that was said to be a third party independent from Xinte Energy.
Xinte Energy will supply Qinghai Gaojing Solar Energy Technology Co with a total of 152,400MT of polysilicon from July 2021 to December 2025. In typical fashion, prices would be negotiated on a monthly basis.
The polysilicon producer noted that the contract could generate revenue of approximately RMB16.9 billion (US$2.6 billion) over the four-and-a-half-year agreement.
PV Tech recently highlighted that Xinte Energy planned a major new polysilicon production plant in city of Baotou, Inner Mongolia, which would be capable of producing 200,000MT per annum.
Xinte Energy did not provide any details behind the business operations of Qinghai Gaojing when it announced the major supply deal, however the company is confirmed to be owned by Zhiqun Xu.
In late 2020, major ‘Solar Module Super League’ (SMSL) member JinkoSolar announced the resignation of its chief operating officer Zhiqun Xu, but it has not been clarified if the Zhiqun Xu from Qinghai Gaojing is the same individual.