SAN JOSE, Calif. Solar-cell provider SunPower Corp. Friday (Sept. 29) announced that it will invest in a joint venture with Woongjin Coway to manufacture monocrystalline silicon ingots.
SunPower, a subsidiary of Cypress Semiconductor Inc., expects to purchase approximately $250 million of silicon ingot from the joint venture through a five-year supply agreement. This joint venture will operate in Korea, with polysilicon to be supplied primarily from DC Chemical, Korea's largest chemical company.
SunPower's joint venture partner, Woongjin Coway, is a Korean equipment manufacturer. SunPower, based here, and DC Chemical have previously announced a major supply agreement.
The venture is expected to begin manufacturing in the second half of 2007, and is projected to grow at a rate consistent with increasing polysilicon supply from DC Chemical.
SunPower will contribute approximately $5 million of capital and technology expertise, and will sell polysilicon to the joint venture, and procure silicon ingot from the joint venture. Woongjin Coway will contribute a similar level of capital, as well as operations and Korean marketing expertise.