Daqo New Energy Corp. today announced that its subsidiaries Xinjiang Daqo and Inner Mongolia Daqo had signed a six-year high-purity polysilicon supply agreement with a leading solar manufacturing company in China.
Under the supply agreement, Xinjiang Daqo and Inner Mongolia Daqo will provide this leading manufacturing company with a total amount of 432,000 MT high-purity mono-grade polysilicon from January 1, 2023 to December 31, 2028. Actual prices will be negotiated by both parties monthly according to market conditions.
Mr. Longgen Zhang, chief executive officer of Daqo New Energy, commented, "We continue to see robust demand for high-purity polysilicon as our downstream customers are expanding their capacities very fast and want to secure the supply for their raw materials. We expect that high-efficiency solar modules based on N-type technology will increase the market share very rapidly starting from next year. N-type technology requires even higher purity of polysilicon than the current P-type mono technology. We have confidence to benefit from this trend and differentiate us from our competitors by providing high-purity polysilicon to address the fast growing demand for N-type products."