Trina Solar reported today that, yes, they too will enter the polysilicon refining business, building at least 3,500 MT (metric tons) of capacity. Considering they have about $200 mil in working capital, looks like we're looking at another stock offering or some debt. I assume they need at least an additional $150 million to build the plant.
Look out REC and WFR! WFR's repeated assertions that competition will be slow in coming is starting to look really silly.
Here's a PARTIAL list of new guys entering the market in the next two years...a total of something like 100,000 MT of capacity (for comparison, the whole industry in 2007 is about 45,000 to 50,000 MT). Of course, all of the current players are doubling capacity as well.
Note: these are NOT the only people who have announced plans to enter the polysilicon biz...just the ones that I figure have the highest chance to succeed. A notable omission is HOKU....read in to that as you like....
Korea
DC Chemical
KCC
Komex
North America
AE Polysilicon, Pennsylvania
Europe
Isofoton et al.
SOL holding AG - Silicium de Provence SAS
Crystal Systems
Nitol, SiPro, other Russia/FSU
Silicon Energy, Spain (Isofoton JV)
PV Silicon Forschungs- und Produktions AG, subsidiary of PV Crystalox Solar
SolarWorld/Degussa joint venture (JSSI)
HyCore (Belgian specialty materials group Umicore SA and Norwegian oil group Hydro ASA)
India
MASDAR (Abu Dhabi Future Energy Company)
China
Sichuan Xinguang
JPID (Jiangsu Photovoltaic Industry Development Co)
Shunda (China)
Daqo Group (China)
Dalu
Henan Xuntianyu Technology
Fuyuan Silicon and Shanghai Solar Technology
LDK
ReneSola/Henan
Shanghai Aerospace Automobile Electromechanical
Tongwei (Si'chuan Yong’xiang)
Trina Solar
Australia
Prime Solar, Australia
Japan
Japan Solar Silicon (Chisso)
Taiwan
Chinese Petroleum Corporation (Taiwan)
Lee Chang Yung (LCY) Chemical Industry
Asia Silicon
Solartech energy & Mosel-Vitelic
Metallurgical producers
Dow Corning
Elkem
JFE Steel
SolarValue
SolarWorld/Scheuten joint venture
Bécancour Silicon (Timminco)
