Solar Supply Chain 'De-China'.. OCI Signs $1.3 Trillion Polysilicon Supply Contract with the US

Supply from Malaysia Factory 2025~2033

OCI Holdings has signed a long-term supply contract worth 1.3 trillion KRW for solar-grade polysilicon with a U.S. solar energy specialist company. This is seen as a benefit from the expansion of non-Chinese solar supply chains in the U.S.

OCI Holdings' Malaysian subsidiary, OCIM, announced on the 19th that it signed a long-term supply contract worth 1 billion USD, equivalent to 1.3 trillion KRW, for solar-grade polysilicon with the U.S. solar specialist company Cubic PV. On the 18th (local time), the two companies signed a long-term supply contract in Massachusetts, USA, under which OCIM will supply solar-grade polysilicon to Cubic for eight years from 2025 to 2033.

Lee Woo-hyun, Chairman of OCI Holdings (right), is shaking hands with Frank Van Mielroijc, CEO, at the long-term supply contract signing ceremony held on the 18th (local time) in Massachusetts, USA. (Photo by OCI Holdings)

OCIM produces 35,000 tons annually of low-carbon solar-grade polysilicon through eco-friendly hydropower in Malaysia. Cubic is a U.S. solar startup currently advancing the construction of the first solar wafer manufacturing plant in the U.S.

OCI Holdings explained that this contract is significant because it ensures a stable supply of non-Chinese polysilicon for wafer production, which is a very important part of forming the solar value chain in the U.S.

Following the U.S., OCI Holdings is continuing investments to establish itself as a key player in the non-Chinese solar value chain in Europe as well. OCIM began facility investments from the third quarter to stabilize processes and improve quality, and is conducting price negotiations and contract discussions linked to non-Chinese solar-grade polysilicon prices with major customers.

Frank van Mierlo, CEO of Cubic, said, "Through the long-term supply contract with OCIM, a global leader in solar-grade polysilicon production, we can focus more on strengthening production capabilities in the U.S. We are pleased to have secured high-quality products compliant with U.S. import regulations in advance, and we will further strengthen our partnership based on mutual trust between the two companies."

Lee Woo-hyun, Chairman of OCI Holdings, stated, "We were able to reaffirm the global market demand for high-quality solar-grade polysilicon produced by OCIM. We will further solidify our leadership position in the global solar-grade polysilicon market through meticulous and efficient pricing and supply policies to flexibly respond to the rapidly changing global situation."

This content was produced with the assistance of AI translation services.