China’s Sunpower Group closes supply deal with Xinjiang Xinte

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Chinese energy saving and clean power technologies provider Sunpower Group Ltd. has closed a second supply deal with China-based polysilicon manufacturer Xinjiang Xinte, a unit of Chinese solar company TBEA Co Ltd.

Under the terms of the CNY105.2 million ($16.4 million) agreement, Sunpower will provide raw material towers and cold-hydraulic heat exchangers to Xinjiang Xinte’s high-purity polysilicon plant upgrade project. All the equipment, the company said in a statement, will be delivered by the end of this year and the order will have a positive impact on final financial results for 2018.

“We are heartened to secure a total of [CNY]185.2 million from our repeat customer TBEA within the short span of a month, underscoring the strong confidence that TBEA has in us, which helps to push the group’s [manufacturing and services] segment order book to a new record high,” said Sunpower Group Executive Chairman, Guo Hong Xin.

The first supply deal with Xinjiang Xinte was closed in early May. Under that CNY80 million agreement, the company’s subsidiary Sunpower Pressure Vessels committed to supply fluidized bed reactors and heat exchangers for the same upgrade project.

Sunpower Group also says it secured contracts worth CNY500 million with GCL and other, unspecified polysilicon companies in 2017.