Pocatello-based Hoku Material, a manufacturer of polysilicon for the solar market, has signed a 10-year agreement to begin in 2010 with Shanghai Alex New Energy Company for materials.

The contract is the latest development for the parent company Hoku Scientific, based in Hawaii. Hoku's contract with Alex represents the resale of a portion of the polysilicon production capacity recaptured by Hoku after agreeing to amend its original supply agreement with Jiangxi Jinko Solar Company. Hoku will make its first shipment to Alex in the first half of 2010.

This will push the manufacturer to complete and open its facility in Pocatello on schedule. A Hoku official told the Associated Press the $390 plant should be up and running later this year. Dustin Shindo, chief executive officer of Hoku Scientific Inc., said despite the faltering economy, the market for polysilicon remains profitable.

The plant is projected to produce 3,500 metric tons annually of polysilicon and employ about 200 workers. Work is also going forward with the Idaho Power substation being constructed on the Hoku property. Officials say electricity to the plant should be available by June or July.

Shanghai Alex New Energy Company is a manufacturer of crystalline silicon solar cells, modules and photovoltaic (PV) products and is based in Taiwan.

Credit: IBR Staff

(Copyright 2009 Dolan Media Newswires)

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