OCI Holdings secures $7B solar deal with Trina Solar

March 25, 2024 | by magnews24.com

Mar 25, 2024 01:27 PM ET

  • OCI Holdings secures $7 billion deal with Trina Solar, highlighting global demand for sustainable polysilicon. Non-Chinese supplier OCI also signs $1 billion contract with CubicPV.

OCI Holdings, a chemical and solar power company, has secured a $7 billion supply deal with Chinese solar module manufacturer Trina Solar. The deal, signed by OCI’s Malaysian subsidiary OCIM, will supply polysilicon materials for photovoltaic panels to Trina Solar’s production facility in Vietnam through 2030. OCI’s Sarawak plant in Malaysia, acquired from Japan’s Tokuyama in 2017, has an annual production capacity of 35,000 tons, expected to expand to 56,500 tons by 2027.

The plant’s hydroelectricity-powered production makes OCIM’s polysilicon competitive in terms of sustainability. OCI Holdings Chairman Lee Woo-hyun stated that the deal with Trina Solar confirms the global demand for high-efficiency polysilicon produced by OCIM. Leveraging its position as a non-Chinese supplier, OCI also signed a $1 billion supply contract with U.S. solar panel manufacturer CubicPV last December, lasting until 2033.

What recent $7 billion supply deal did OCI Holdings secure with Trina Solar?

  • OCI Holdings secured a $7 billion supply deal with Chinese solar module manufacturer Trina Solar
  • The deal was signed by OCI’s Malaysian subsidiary OCIM and will supply polysilicon materials for photovoltaic panels to Trina Solar’s production facility in Vietnam through 2030
  • OCI’s Sarawak plant in Malaysia, acquired from Japan’s Tokuyama in 2017, has an annual production capacity of 35,000 tons, expected to expand to 56,500 tons by 2027
  • The plant’s hydroelectricity-powered production makes OCIM’s polysilicon competitive in terms of sustainability
  • OCI Holdings Chairman Lee Woo-hyun stated that the deal with Trina Solar confirms the global demand for high-efficiency polysilicon produced by OCIM
  • OCI also signed a $1 billion supply contract with U.S. solar panel manufacturer CubicPV last December, lasting until 2033

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