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Sunpower unit clinches 94.8 million yuan contract
JIANGSU Sunpower Pressure Vessels Equipment Manufacturing, a subsidiary of mainboard-listed Sunpower Group, announced on Tuesday that it has been awarded a contract worth 94.8 million yuan by Inner Mongolia Tongwei High-Purity Crystalline Silicon Co.
The group will provide four cold hydrogenation fluidised bed reactors to Inner Mongolia Tongwei's first-phase 25,000 tonne high-purity crystalline silicon project which has commenced construction and is expected to enter production in 2018. Sunpower will complete the delivery of the products in the first half of 2018.
The group said that this will have a positive impact to its FY2018 results.
Inner Mongolia Tongwei is a subsidiary of Tongwei Group, which is a large conglomerate in China. According to Sunpower Group's filing to the Singapore Exchange, Tongwei Group is looking to strengthen its photovoltaic business across the value chain and aims to cement its leading position in the field of polysilicon manufacturing.
Guo Hongxin, chairman of Sunpower Group, said: "Moving ahead, we will continue to diversify our customer base and endeavour to broaden our market presence worldwide in pursuit of a sustainable growth in equipment manufacturing business. Meanwhile, the group will remain focused on the business expansion in the other two segments, EPC integrated solutions (flare-gas recovery system, zero liquid discharge system, photovoltaic power generation and petrochemical engineering) and green investment."