Shinsung E&G announced on Dec. 20 that it has signed a 240MW high-efficiency “PERC” solar cell supply contract with North American solar energy module company, called Silfab Solar. The amount of the contract is unknown.
Shinsung E&G will supply its products to Silfab Solar from February next year until January 2020. Shinsung E&G and Silfab Solar have been doing business since 2012. Silfab Solar has factories in Canada and the U.S.
PERC solar cell is a technology that converts energy into electrical energy more efficiently through a special process at the back of a battery. Shinsung E&G has been mass-producing PERC solar cells since 2017. Currently it is mass-producing mono solar cells with the conversion efficiency of 22%.
The company interpreted the contract as a sign that the solar energy market, which had been sluggish due to the U.S. Safeguard and China's subsidy cuts, is recovering.
"As more and more customers are looking for high-efficiency solar cells and high-power solar modules, we are planning to lead domestic and foreign solar markets through high-efficiency PERC solar cells and high-powered solar energy modules called Power XT," said a Shinsung E&G official.