South Korean polysilicon producer OCI has announced that it will raise the annual production capacity from 210 MW to 1 GW.
The production will grow at its solar module factory operated by Mission Solar Energy unit. This unit aims to start commercial operations of its new production lines by next year.
According to OCI, the company needs an investment of around $40 million for the expansion plan.
It has been reported that the facility produces only panels for residential applications so far. However, now, it will also manufacture M10 solar panels for commercial and large-scale projects.
“OCI plans to preemptively respond to the growth of the US solar market, which is expected to see increasing demand,” the company said in a statement. It further added, “OCI wants to actively respond to the growing demand for modules in the US by expanding its facility and establishing a stable supply chain by procuring polysilicon at its Malaysian plant.”
As per the company, it is currently developing five solar power generation projects and one storage facility. Its total annual polysilicon output amounts to 38,000 MT.
Meanwhile, OCIM Sdn Bhd, the Malaysian unit of OCI, is currently operating a 35,000 MT polysilicon factory. The factory is located in the Samalaju Industrial Park in Malaysia.