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Announcement
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Hoku Scientific Signs New $306 Million Dollar Deal
Hoku Scientific Inc. announced a new agreement to supply Solarfun Power Holdings Co. with polysilicon, a material used in making solar cells.
The deal is worth up to $306 million, with the first shipments set for the second half of 2009. Since June, Hoku has signed polysilicon supply contracts that could be worth more than $1.5 billion through 2019, including an agreement with Suntech Power Holdings Co. Ltd. that could reach $678 million.
Hoku is building a polysilicon plant in Pocatello Idaho, and also has contracts with Solar-Fabrik AG and Sanyo Electric Co. Ltd. Shipments to each company will begin in 2009.
Investors are gaining confidence in Hoku, which is already planning to expand the capacity of the Idaho plant.
"The fact that Hoku was able to secure an expansion-phase contract, in addition to deals already in place with Sanyo, Suntech, Solar-Fabrik, suggests that customers view the Hoku plant as a credible source of future poly supply," he said.
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