South Korean polysilicon producer OCI and Toyo Solar, a subsidiary of Vietnamese solar panel maker VSun Solar, have signed a long-term strategic supply agreement.
OCI will supply Toyo Solar with low-carbon silicon materials for wafer production. According to a statement from VSun Solar, the partnership will support its strategic goal of vertical integration across the global supply chain.
Lewis Cai, the CEO of VSun Solar, said the partnership “safeguards the stable supply of critical raw materials along VSun’s production chain … Our future with OCI is one of close collaboration, and we believe the strategic value of today's agreement will capture the attention and anticipation of industry observers.”
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In November, Toyo Solar commissioned a 4 GW TOPCon cell factory, completing the first phase of an 8 GW manufacturing facility in Vietnam. In December, OCI announced a $1 billion silicon supply deal with US-based CubicPV for the development of solar wafers.
VSun Solar is a unit of Japan-based Fuji Solar Co Ltd.
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