PVTIME - Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy", the "Company" or "we") announced that its subsidiary Xinjiang Daqo New Energy has signed long-term high-purity polysilicon supply agreements with a subsidiary of JA Solar (SZ:002459) and with another leading solar company.
Under the supply agreement with JA Solar, Daqo New Energy will provide JA Solar with high-purity mono-grade polysilicon in a total amount of 32,400 MT ~ 43,200 MT between January 2021 and December 2023. Actual volume and prices will be negotiated monthly by both parties according to market conditions.
Under the other supply agreement, Daqo New Energy will provide high-purity mono-grade polysilicon to a leading solar company in a total amount of 12,000 MT between January 2021 and December 2022. Actual volume and prices will be negotiated monthly by both parties according to market conditions.
Mr. Longgen Zhang, Chief Executive Officer of Daqo New Energy, commented, "We are very pleased to further strengthen our cooperation with JA Solar and another leading solar company, both of whom have been our long-term customers for years. Including the volume of these two agreements, approximate 79,800 MT of our polysilicon has already been booked under long-term supply agreements for 2021. We believe solar PV will play an increasingly important role in the global energy market as we are entering into the era of grid-parity and as the levelized cost of solar PV is being continuously reduced. As always, we will focus on our core business by accelerating our capacity expansion and providing high quality products to contribute our effort to the fast-growing solar PV market."