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REC Silicon terminates silicon ingot and wafer partnership with US-based Violet Power Email
Polysilicon producer REC Silicon has surprisingly terminated it supply chain partnership with US PV manufacturing start-up Violet Power. Image: REC Silicon.
Polysilicon producer REC Silicon has surprisingly terminated it supply chain partnership with US PV manufacturing start-up Violet Power, claiming it would best serve its shareholders by focusing on doing business with “established, proven, active and relevant solar supply chain partners”.
REC Silicon claimed that there had been a major change in the political support for solar energy in markets such as Europe and the US, with emphasis on supporting a complete indigenous supply chain within these markets to reduce the significant dependence on imported raw materials through to finished PV modules.
Investegate |REC Silicon ASA Announcements | REC Silicon ASA: REC Silicon – Announces termination of strategic partnership with Violet Power investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
February, 2021
Investors, consumers and employees are increasingly focused on corporate ESG goals. This newfound attention is a universally positive change, helping prioritize sustainability in businesses large and small. As part of their efforts, many CSOs rely on solar and other renewable energy sources to drive progress on their companies’ sustainability goals.
With increased attention often comes increased scrutiny. Inadvertent mistakes can trigger a backlash for activities that run contrary to sustainable goals. Remember toilet paper made from cutting old growth rainforests?
For solar, similar problems could be waiting around the corner. Companies expanding their use of solar may not know it, but they’re often buying solar panels from supply chains reliant on energy-inefficient factories powered by burning dirty coal. They can proactively guard against this potential reputational hit by deploying Ultra Low-Carbon Solar panels made in supply chains with cleaner energy. �