The new Woongjin Energy (WJE) factory is headquartered in the DaeDeok Techno Valley business park in DaeJeon City of South Korea and will produce silicon ingots exclusively for solar cell production.
SunPower has said that it will purchase approximately $250 million of silicon ingots from the joint venture through a five-year supply agreement. Production by WJE is anticipated to grow at a rate consistent with increased polysilicon supply from DC Chemical. SunPower has contributed equity capital and technology expertise, and is selling polysilicon to WJE as well as procuring silicon ingots from them.
Hakdo Yoo, president and CEO of Woongjin Energy, said: Woongjin Energy is ready to apply its expertise to produce high quality silicon ingots for SunPower. With our highly educated workforce, convenient materials transportation, and research and development infrastructure, Woongjin Energy is well positioned for a long and successful future in the solar business.
