REC Silicon »pleased« with multi-billion dollar plans from its shareholder Hanwha

Norwegian silicon producer REC Silicon ASA is »pleased« with plans by Korea’s Hanwha Q Cells to invest $2.5 billion in the U.S. (our Jan. 12 news). REC, 33.3 percent owned by Hanwha Group or its Hanwha Solutions division, which includes Hanwha Q Cells, is »in negotiations« for Hanwha Solutions to take all production from its silicon plant in Moses Lake, Washington, USA, which has been shut down since mid-2019. Details on this will be provided »as soon as the negotiations are completed«.
The restart of the silicon plant, which operates with fluidized bed reactors, had already been announced last May for the end of 2023, as well as the offtake of the total production by Hanwha. Even when Hanwha acquired an initial stake in REC in November 2021, this was already proclaimed as a step toward a »U.S.-based solar value chain.« REC has now again confirmed that it is »on schedule« with the preparations for the relaunch.

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