Yingli reaches amendment to polysilicon contracts with Wacker

Headquarters of Yingli Green Energy (Yingli Solar) in Baoding, Hebei province
Yingli Green Energy has negotiated new quantities and prices for polysilicon deliveries from Wacker from 2019 to 2028 – Image: Yingli

Cash-strapped Chinese integrated solar module producer Yingli Green Energy has successfully negotiated new terms for its polysilicon long-term contracts with German supplier Wacker Chemie AG.

According to the agreement, Yingli will purchase polysilicon from Wacker from 2019 to 2028 at amended quantities and prices; Wacker will suspend damage claims against the company arising from previous long-term contracts, but will retain prepayments it has already received. Between 2006 and 2010, Yingli had closed seven long-term agreements with Wacker; five have already expired and two will expire at the end of this year.

Another long-term contract of Yingli with U.S.-based manufacturer Hemlock Semiconductor is running through 2020. Chinese sources have confirmed that Hemlock is the supplier that filed a request for arbitration of a US$897.5 million claim against Yingli with the London Court of International Arbitration on April 26.

Yingli had total liabilities of $3.2 billion at the end of 2017. The company has been on the brink of bankruptcy for roughly three years now.

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