L R AS Published on Saturday 27 August 2022 - n° 413 - Categories:miscellaneous financial
REC Silicon reconfirms its decision to relaunch silicon production
REC Silicon expects to restart silicon production at its Moses Lake, Washington facility in the fourth quarter of 2023 and to reach 100% capacity utilization by the end of 2024.
Modifications to the site's fluidised bed reactor (FBR) technology are under way. The company is making progress with the procurement of materials and equipment. It is recruiting for positions essential to the restart of operations.
Following the US President's decision to sign the Inflation Reduction Act, REC Silicon will benefit from a production credit of $3/kg of silicon produced.
In the second quarter, REC Silicon sold 471 million tonnes (down 3% on the same quarter last year). Sales increased by 26% to $45 million. EBITDA was a loss of $1.1 million.
PV Tech of 17 August 2022
Editor's note REC Silicon had already announced the restart of the Moses Lake plant. This was confirmed at the time of the recent cash injection by Hanwha. The company really wants to confirm its restart!
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A few days after the passage of the Inflation Reduction Act, which provides support for the manufacture of solar energy in the United States, REC Silicon and Mississippi Silicon signed a memorandum of understanding to source raw materials and contribute to the establishment of the Moses Lake plant.and help establish a low-carbon, traceable US solar supply chain.
The reopening of REC Silicon's Moses plant is further evidence of the beginnings of a rebuilt solar industry on the other side of the Atlantic.
https://www.pv-tech.org/rec-silicon-and-mississippi-silicon-sign-mou-for-raw-material-supply/
PV Tech of 22 August 2022
