Tianwei eyes Wells Fargo financing for polysilicon plant

Tianwei New Energy is seeking financial support from the Wells fargo Bank for PV projects in the U.S., and potentially modules.

Hoku Solar, a subsidiary of Hoku, was said to be developing PV projects in the U.S. Tianwei took a majority ownership in Hoku Materials last year as the under-construction polysilicon plant ran into financial difficulties.

 
“Wells Fargo is better positioned than ever to support the financing needs of overseas-based multinationals operating in the U.S.,” said Sanjiv Sanghvi, head of Wells Fargo Global Banking. “We are excited to have Tianwei as a partner and hope to be able to help the company develop its U.S. businesses.”
 
Financial terms were not disclosed and that the strategic cooperation agreement was only a first step in the business relationship.