Daqo New Energy Corp. (NYSE: DQ), today announced that it signed a long-term high-purity polysilicon supply agreement with Trina Solar (SSE:688599) ("Trina"), a global leading solar PV system integrator.
Under the supply agreement, Daqo New Energy will provide Trina with high-purity mono-grade polysilicon in a total amount of 30,000 MT ~ 37,600 MT between November 2020 and December 2023. Actual prices will be negotiated by both parties monthly according to market conditions. As part of the supply agreement, Trina will make an advance payment to Daqo New Energy.
Mr. Jifan Gao, Chairman of Trina Solar, commented, "As a global leading solar PV solution provider, we are always committed to innovation and quality improvement. We are pleased to enter into a long-term partnership with Daqo New Energy. This will help us better execute our strategy, which is to provide advanced solar PV products and solutions with higher efficiency so as to address fast growing demand in solar PV market, drive grid parity and benefit society through green energy."
Mr. Longgen Zhang, Chief Executive Officer of Daqo New Energy, commented, "We are very pleased to deepen our cooperation with Trina Solar with this three-year polysilicon supply agreement. We will continue to provide first-class polysilicon products to our customers and work with them to facilitate innovation, improve conversion efficiency, reduce levelized cost and achieve grid-parity for solar PV energy.