The German company’s decision to cede market share to Chinese companies producing the material for solar panels, in order to focus on semiconductor-ready, electronic grade product, has seen it slip behind its rivals in terms of production scale.
TBEA-owned Xinte Energy says it cannot produce polysilicon quickly enough to meet demand and wants shareholders to back its bid to quadruple its manufacturing capacity by mid 2024.
Polysilicon maker Xinte is forging ahead with a huge expansion strategy just as solar developers at the opposite end of the industry continue to bleed cash.
State-owned China Xinhua Power Development has booked a $53 million discount on seven solar farms as developer Kongsun seeks to pay down debts, and Canadian Solar has landed a 45 MWh energy storage contract in Colombia.
The two solar manufacturers will get priority access to polysilicon produced at the planned fab in Inner Mongolia, which developer Xinte Energy has said will be fully operational by June 2023.
With the solar industry already seeing prices rise because of a shortage of panel raw material polysilicon, an explosion yesterday at the factory of a silicon metal
and silicone producer in Xinjiang could have further repercussions on supply. No casualties have been reported.
The TBEA-owned poly manufacturer has predicted further consolidation as it aims to ramp up output with another 100,000 tons of annual production capacity.
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