Brief: REC Silicon Unit Inks Binding Term Sheet With Hanwha Solutions In U.S

Rec Silicon ASA

01/02/2023 08:22

Feb 1(Reuters) - REC Silicon ASA  RECSI.OL :
    * SAID ON TUESDAY ENTERED INTO BINDING TERM SHEET BETWEEN
SUBSIDIARY REC SOLAR GRADE SILICON LLC AND HANWHA SOLUTIONS
    * AGREEMENT IS FOR 10 YEAR TAKE-OR PAY OFFTAKE FOR FBR
POLYSILICON
PRODUCED AT REC SILICON’S FACILITY AT MOSES LAKE, WASHINGTON 
    * OFFTAKE PROVIDES FOR SALE TO HANWHA SOLUTIONS OF 100% OF
PRIME
FBR PRODUCTION FROM FACILITY
    * WITH THIS, CO CONTINUES WITH ITS PLAN TO RE-START FACILITY
IN Q4
2023, WITH AMBITION TO REACH FULL CAPACITY UTILIZATION BY END OF
2024, SAYS CEO KURT LEVENS

        
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