Woongjin Energy Corp. (WJE), a joint venture between SunPower Corp. and Woongjin Holdings Company Ltd., will today dedicate a new 46,200 square-meter solar silicon ingot pulling factory in the DaeDeok Techno Valley business park in DaeJeon City, Korea.
The factory – the largest of its kind in Korea – will produce silicon ingots exclusively for solar cell production. Polysilicon for this venture will be supplied primarily from DC Chemical, Korea's largest chemical company. All ingots produced at the factory are expected to be exported.
"Woongjin Energy is ready to apply its expertise to produce high-quality silicon ingots for SunPower," says Hakdo Yoo, president and CEO of Woongjin Energy Co." With our highly educated workforce, convenient materials transportation, and research and development infrastructure, Woongjin Energy is well positioned for a long and successful future in the solar business."
SunPower says it is purchasing approximately $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. SunPower has contributed equity capital and technology expertise, and is selling polysilicon to WJE as well as procuring silicon ingots from them.