Daqo New Energy Corp. announced that it has signed a 32-month 39,600 MT polysilicon supply agreement with Longi Green Energy Technology Co., Ltd.
Under the terms of the supply agreement, Daqo New Energy will supply Longi with 39,600 MT of polysilicon starting from April 2018 through the end of 2020, for use in the production of mono-crystalline solar products. As part of the supply agreement, Longi will make an advance payment on the polysilicon to Daqo New Energy.
Mr. Baoshen Zhong, Chairman of Longi, commented, "Daqo New Energy's polysilicon meets the stringent purity requirements we have for the production of high-efficiency mono-crystalline solar products. This supply agreement with Daqo New Energy will allow us to expand production capacity of our high-efficiency mono-crystalline solar products to meet the growing demand from our downstream customers. Daqo New Energy's ultra-high-quality polysilicon and reliability make them the ideal strategic supplier, and we look forward to building a deeper partnership with them."
Mr. Longgen Zhang, Chief Executive Officer of Daqo New Energy, commented, "I'm pleased that we have signed this long-term supply agreement with Longi, the world's leading mono-crystalline solar products manufacturer and one of global top-tier solar manufacturers. Chinese solar manufacturers rely heavily on foreign imports of polysilicon. Daqo is one of the very few Chinese polysilicon producers who can produce ultra-high-quality polysilicon domestically. I believe bringing Longi on board as a strategic long-term customer demonstrates our reputation as a reliable and preferred supplier of high-quality polysilicon. I look forward to working closely with Longi to further improve our ability to serve the growing demand for high-end mono-crystalline grade polysilicon."