Woongjin Energy Corp. (WJE), the joint venture between Silicon Valley-based SunPower Corporation (Nasdaq: SPWR) and Woongjin Holdings Company Ltd., will dedicate a new 46,200-square-meter solar silicon ingot pulling factory on November 28th.
SunPower is purchasing approximately US$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, Korea’s largest chemical company.
SunPower has contributed equity capital and technology expertise, and is selling polysilicon to WJE as well as procuring silicon ingots from them.
“With the dedication of this factory, we have taken another meaningful step in expanding our supply portfolio,” said PM Pai, COO, at SunPower Corp. “We are pleased that construction on this factory was completed on time and that manufacturing has begun.”
The new WJE factory is headquartered in the DaeDeok Techno Valley business park in DaeJeon City, Korea and will produce silicon ingots exclusively for solar cell production. Polysilicon for this venture will be supplied primarily from DC Chemical. All ingots produced at the factory are expected to be exported.
The factory will be the largest of its kind in Korea.
About SunPower
SunPower Corporation manufactures solar electric systems worldwide for residential, commercial and utility-scale power plant customers. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe and Asia. SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY – News).
About Woongjin Energy Co.
Woongjin Energy Co. is a joint venture of Woongjin Holdings and SunPower Corp. The company specializes in the development and manufacture of monocrystalline silicon ingots for solar cells. Woongjin Energy operates the largest solar ingot pulling facility in Korea, and has integrated environmental orientation and high productivity into its manufacturing processes. For more information, visit http://www.woongjinenergy.com.
About Woongjin Holdings Co., Ltd.
Woongjin Holdings Co., Ltd. Is the holding company of Woongjin Group, which has nine major subsidiaries, such as Woongjin ThinkBig, Woongjin Coway and Woongjin Foods. Woongjin ThinkBig is a comprehensive publisher of books, book collections and magazines. Private-tutoring textbooks for its educational services make up another important pillar of Woongjin ThinkBig’s business. Woongjin Coway sells and rents water purifiers, air purifiers, bidets and water softeners. It also provides friendly maintenance service to its customers. Woongjin Foods is a trendsetter in the healthful beverages sector with products made from rice, plum, barley and other beneficial produce and grain. For more information, visit http://www.woongjin.com.
Loading...