Chinese solar manufacturer JinkoSolar has signed a five-year agreement to purchase 70,000 tons of PV module raw material polysilicon from German producer Wacker.
Jinko announced the arrangement yesterday and stated the purchase price “will be decided based on the market price.” Based on the latest weekly average spot price for polysilicon of $26.50/kg recorded by Taiwanese analyst PV InfoLink, the supply deal would be worth $1.86 billion.
The polysilicon, manufactured at Wacker sites in Germany and the U.S., will begin to be supplied next month and the arrangement will continue until December 2026.
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Announcing the deal in a press release, Jinko CEO Kangping Chen said: “As a leader in the global polysilicon market, Wacker's products have always been of superior quality. By locking in over 70,000 tons of polysilicon from Wacker, we will ensure the reliability of the manufacturing of our products from a high-quality raw material source, as well as the stable supply of our high efficiency products to our global clients.
“With the rapid growth in demand for our global shipments, we have always set our sights on the long haul and are working towards reaching long-term partnerships with key raw material suppliers in the PV industry. This ensures we can continue to provide our global clients with a steady supply of more highly efficient and clean products, and to promote the development and advancement of the global PV industry together.”
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If I remember correctly, there is a 57 % tax on polysilicon exported from the US to China. Is the tax being lifted?
Hi Marius,
No mention of taxes was made in the statement issued by Jinko about the supply deal, which stated only that the polysilicon would be sourced from Wacker facilities in the U.S. and Germany.