JSG Receives Contracts from Shuangliang for RMB 2.2 Billon Worth of Furnace Systems

Chinese equipment provider JSG released a notice on November 8 detailing the equipment contracts that it has signed with c-Si product supplier Shuangliang Silicon Materials (Baotou) this May. Specifically, JSG is providing Shuangliang with the crystal growing (pulling) furnaces for the manufacturing of mono-Si products. JSG and Shuangliang have inked two contracts so far, one in May and one in November. The May contract is worth around RMB 1.4 billion and divided into two phases. Shuangliang has paid around RMB 1.6 billion for the first phase. Together, the May and November contracts are worth around RMB 2.2 billion (include tax). JSG will be delivering its equipment systems to Shuangliang during the period between October 2021 and May 2022.

Shuangliang Silicon Materials is a newcomer in the PV market. Formed just this February, the company is a wholly-owned subsidiary of Shuangliang Eco-Energy (Shuangliang Group) and serves as a mono-Si product manufacturing business unit. According to its current development plan, Shuangliang is going to set up 20GW of annual processing capacity each for crystal pulling and wafer slicing. The total investment for the initial phase of capacity build-up is projected to reach RMB 7 billion. PV news websites reported in October that Shuangliang Eco-Energy just secured a long-term contract from compatriot PV cell manufacturer Runergy. Between 2022 and 2024, Shuangliang will be supplying wafers to Runergy with prices being negotiated on a monthly basis.

The table below further describes the two aforementioned equipment contracts in detail: