SHANGHAI, Nov. 30, 2020 /PRNewswire/ -- Daqo New
Energy Corp. (NYSE: DQ) ("Daqo New Energy", the "Company" or "we"),
a leading manufacturer of high-purity polysilicon for the global
solar PV industry, today announced that it signed a long-term
high-purity polysilicon supply agreement with Trina Solar (SSE:688599) ("Trina"), a global
leading solar PV system integrator.
Under the supply agreement, Daqo New Energy will provide Trina
with high-purity mono-grade polysilicon in a total amount of
30,000 MT ~ 37,600 MT between November
2020 and December 2023. Actual
prices will be negotiated by both parties monthly according to
market conditions. As part of the supply agreement, Trina will make
an advance payment to Daqo New Energy.
Mr. Jifan Gao, Chairman of
Trina Solar, commented, "As a global
leading solar PV solution provider, we are always committed to
innovation and quality improvement. We are pleased to enter into a
long-term partnership with Daqo New Energy. This will help us
better execute our strategy, which is to provide advanced solar PV
products and solutions with higher efficiency so as to address fast
growing demand in solar PV market, drive grid parity and benefit
society through green energy."
Mr. Longgen Zhang, Chief Executive Officer of Daqo New Energy,
commented, "We are very pleased to deepen our cooperation with
Trina Solar with this three-year
polysilicon supply agreement. We will continue to provide
first-class polysilicon products to our customers and work with
them to facilitate innovation, improve conversion efficiency,
reduce levelized cost and achieve grid-parity for solar PV
energy.
About Trina Solar
Founded in 1997 as a world leading solar PV system integrator,
Trina Solar's business includes
R&D, manufacture and sales of solar PV modules, power plants
and system products, solar PV power generation and operations and
maintenance and service, R&D and sales of smart micro-grid,
multi-energy system, and smart energy cloud platform
operations.
About Daqo New Energy
Daqo New Energy Corp. (NYSE: DQ) ("Daqo" or the "Company") is a
leading manufacturer of high-purity polysilicon for the global
solar PV industry. Founded in 2007, the Company is one of the
world's lowest cost producers of high-purity polysilicon. Daqo's
highly-efficient and technically advanced manufacturing facility
currently has a nameplate annual polysilicon production capacity of
70,000 metric tons.
For more information, please visit www.dqsolar.com
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. The Company may
also make written or oral forward-looking statements in its reports
filed or furnished to the U.S. Securities and Exchange Commission,
in its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the demand for photovoltaic products and
the development of photovoltaic technologies; global supply and
demand for polysilicon; alternative technologies in cell
manufacturing; the Company's ability to significantly expand its
polysilicon production capacity and output; the reduction in or
elimination of government subsidies and economic incentives for
solar energy applications; the Company's ability to lower its
production costs; changes in the political and regulatory
environment; and the duration of COVID-19 outbreaks in China and many other countries and the impact
of the outbreaks and the quarantines and travel restrictions
instituted by relevant governments on economic and market
conditions, including potentially weaker global demand for solar PV
installations that could adversely affect the Company's business
and financial performance. Further information regarding these and
other risks is included in the reports or documents the Company has
filed with, or furnished to, the U.S. Securities and Exchange
Commission. All information provided in this press release is as of
the date hereof, and the Company undertakes no duty to update such
information or any forward-looking statement, except as required
under applicable law.
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SOURCE Daqo New Energy Corp.