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Renewables Now – Chinese solar products maker Xinte Energy Co Ltd (HKG:1799) said that it has signed an agreement to sell 152,400 tonnes of polysilicon to Qinghai Gaojing Solar Energy Technology Co Ltd.

The sale and purchase agreement covers a period from July 2021 to December 2025. The price of the orders will negotiated on a monthly basis.

The total value of the transaction is estimated at around CNY 16.916 billion (USD 2.6bn/EUR 2.2bn), including tax, based on the latest price of polysilicon announced by PVInfoLink, Xinte Energy said.

Two months ago, the company signed a similar agreement to supply 70,350 tonnes of polysilicon to PV equipment maker Wuxi Shangji Automation Co Ltd (SHA:603185).

Xinte Energy is looking to increase the polysilicon production capacity with the construction of a 100,000-tonne-per-year plant in Inner Mongolia. The board recently gave its green light to the proposal to build the plant, but said the required investment would need the approval from the shareholders as well.

CNY 1.0 = USD 0.154/EUR 0.129