Recently, Hanwha Solutions plans to invest US$160.4 million to purchase a 16.67% stake in REC Silicon ASA, which owns REC Silicon’s 20,000-ton polysilicon plant in the United States.
It is reported that Hanwha owns a 1.7GW photovoltaic module factory in the United States. This move will ensure the supply of raw materials for Hanwha’s module production in the United States. This transaction is expected to provide REC Silicon with sufficient funds to restart its 20,000-ton polysilicon plant in Moses Lake, Washington in 2023. The plant uses fluidized bed reactor (FBR) technology to produce granular polysilicon. According to REC Silicon, the power consumption of this technology is reduced by 90% compared to the traditional Siemens process.
REC due to the double countermeasures between China and the United States and the 201 and 301 investigations since the trade war, the polysilicon produced from the United States has been completely excluded from the Chinese market, and REC has therefore begun to decline. Until the summer of 2019, REC completely stopped the production of the Washington polysilicon plant and laid off the last 100 employees, leaving only an unknown number of maintenance personnel to ensure that the equipment can resume production when REC can re-enter the Chinese market. 2019 In October, REC’s polysilicon business plans to shut down all production facilities in the United States.