LONGi Signs 16.77 Billion Yuan in Silicon and Solar Glass Procurement Agreements

PVTIME – On February 5, LONGi announced the signing of two major procurement agreements. One for the purchasing of 10.4 billion worth of solar glass from Flat Glass Group and the other for 77,700 tonnes of polysilicon material from OCIM.

The procurement agreement with Flat Glass Group entails the purchasing an additional 27.86 million square meters on top of its original 95.92 million square meters of procurement agreement for 2021. Furthermore, from 2022 to 2023, LONGi will purchase 3.2mm and 2.0mm thickness solar glass capable of supporting 46GW of module production from Flat Glass Group. According to the average price of 3.2mm photovoltaic glass at 42 yuan/square meter (tax included) and 2.0mm photovoltaic glass 34 yuan/square meter (tax included) announced by Sublime China Information on February 4, 2021, the total contract amount is estimated to be about 10.4 billion yuan (tax excluded).

The procurement agreement with OCIM entails the purchasing of 77,700 tonnes of polysilicon materials by LONGI and 9 of its subsidiaries from March 2021 to February 2024. Based on the average transaction price announced by Silicon Industry of China Nonferrous Metals Industry Association, the total contract amount is estimated to be 6.36 billion yuan (excluding tax).

Since 2020, LONGi has signed seven long-term purchase agreements with silicon materials and photovoltaic glass suppliers worth a total of 60.921 billion yuan.