Tongwei Issues Three Major Announcement on the Signing of Two Major Purchasing Agreements for 140,800 Tons of Polycrystalline Silicon and a 15 Billion Yuan Joint Investment Venture With Trina Solar

PVTIME - On November 17, Tongwei Co., Ltd. issued a trio of announcements regarding the signing of two major purchasing framework agreements with Trina Solar Co., Ltd. and Baotou Meike Silicon Energy Co., Ltd., and a joint investment venture with Trina Solar Co., Ltd. for the further development of the photovoltaic industry chain.

According to Tongwei’s < Announcement on Signing of Major Purchasing Framework Agreement With Trina Solar Co., Ltd.>, Trina Solar., Ltd. has signed a long-term polycrystalline silicon purchase agreement with second tier subsidiaries of Tongwei Co., Ltd. ("Tongwei"), namely Sichuan Yongxiang Polysilicon Co., Ltd., Sichuan Yongxiang New Energy Co., Ltd., Inner Mongolia Tongwei High-purity Crystalline Silicon Company, and Yunnan Tongwei High-purity Crystalline Silicon Company. According to the contract, from January 2021 to December 2023, Trina Solar will purchase about 72,000 tons of polycrystalline silicon ("Poly-Si") from Tongwei.

According to Tongwei’s < Announcement on Signing of Major Purchasing Framework Agreement With Baotou Meike Silicon Energy Co., Ltd.>, between January 2021 to December 2023, Baotou Meike Silicon Energy Co., Ltd. will purchase 68,800 tons of polycrystalline silicon from Tongwei Co., Ltd.’s subsidiaries Sichuan Yongxiang Polysilicon Co., Ltd., Sichuan Yongxiang New Energy Co., Ltd., Inner Mongolia Tongwei High-purity Crystalline Silicon Company, and Yunnan Tongwei High-purity Crystalline Silicon Company.

According to Tongwei’s < Announcement on the Cooperation With Trina Solar Co., Ltd. to Invest in Photovoltaic Industry Chain Projects>, Tongwei intends to sign a joint venture agreement with Trina Solar to invest in the development of a high-purity silicon project with an annual output of 40,000 tons, a rod pulling project with an annual output of 15GW, a wafer slicing project with an annual output of 15GW, and a high efficiency solar cell project with an annual output of 15GW. The investment total for the high-purity silicon project is about 4 billion yuan, the investment total for the rod pulling project is approximately 5 billion yuan, the investment total for the wafer slicing project is approximately 1.5 billion yuan, and the investment total for the high-efficiency solar cell project is approximately 4.5 billion yuan. The two parties have also reached a cooperation consensus on the matter regarding Trina Solar and its ​​related parties’ procurement of high-efficiency solar cells from the cooperative project every year. Each project will be constructed and put into operation in accordance to the joint venture agreement with the rod pulling project and wafer slicing project being carried out in phases.

 

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