South Korea's OCI Holdings Co. announced on Monday that its Malaysian subsidiary OCIM Sdn Bhd signed a long term supply agreement for solar-grade polysilicon with the global solar energy specialist Trina Solar Co.
Under the latest contract, OCIM will supply solar-grade polysilicon worth $700 million (930 billion won) to Trina Solar's production base in Thai Nguyen, Vietnam, until 2030.
Established in 1997, Trina Solar has expanded to over 170 countries and regions. It's a global top-tier company known for its high-throughput and high-efficiency 210-mm solar modules, boasting the world's largest shipment volume.
OCI Holdings explained that with its stable supply capability of low-carbon polysilicon for solar energy, based on Malaysia's eco-friendly hydroelectric power generation, and excellent product competitiveness, OCIM has secured a strong position in the global market.
Since the third quarter of last year, OCI Holdings has been strategically focusing on securing contracts, starting equipment investments for process stabilization and quality improvement, and negotiating prices and contracts with global top-tier clients based on non-Chinese polysilicon prices.
During last month's earnings conference call, OCI Holdings announced plans to increase OCIM's polysilicon production capacity from the existing 35,000 tons to 56,600 tons by 2027.