Sichuan Yonxiang Co. Ltd, a subsidiary of Chinese industrial giants Tongwei, has announced the creation of a joint venture with Longi Green Energy Technology. The joint venture plans to build a new polysilicon production plant in Sichuan Province, China, with an annual capacity of 50,000 metric tonnes.
The Chinese polysilicon producer’s net profit rose sharply from $13 million a year earlier, as revenue jumped 25.9% year on year to $229.1 million.
The Norwegian silicon producer increased its fourth quarter revenues by $30 million on Q3, and forecasts rising demand for polysilicon in China ahead of the country’s July FIT decrease.
The company’s Phase 3A facility in China’s Xinjiang is now up and running, and should reach full production capacity of 18,000 metric tons of polysilicon the first quarter of the year.
Sharp uptick in polysilicon imports into China between October and November last year point to repeat of 2016’s first-half solar surge, suggests analysis by Bernreuter Research.
The German chemical giant finished off 2016 with increased sales and profit in its polysilicon division, as it remains the only Western polysilicon maker to sell directly into China.
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