Wacker Chemie AG (WCH.DE) today announced mid-term plans to construct a new polycrystalline silicon facility in the U.S. that will supply the raw material to companies making solar wafers.
The Munich, Germany-based chemical group said it has already purchased roughly 550 acres in Bradley County, Tennessee for $20 million.
Wacker expects a mid-term investment in the Cleveland, Tennessee area of around $1 billion to set up the new plant, which is expected to create about 500 new renewable energy jobs.
The company said the size of the site, the availability of reliable power from the Tennessee Valley Authority (TVA), over-the-fence supply of chlorine from the adjacent OLIN Corporation facility and excellent transportation infrastructure made this an attractive location.
“We expect polysilicon demand from the solar and semiconductor industries to further increase in coming years,” explained Rudolf Staudigl, President and CEO of Wacker Chemie AG. “Purchasing the land is an essential prerequisite to quickly build up additional production capacities outside the euro zone in line with the projected market trends and growth in demand.”
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