Jusung Engineering will supply production equipment for solar cells to a Russian company, TheElec has learned.
The deal is worth between 40 billion won to 50 billion won. This means it is worth between 32% to 42% of Jusung’s revenue of 118.5 billion won it recorded for the entire year of 2020.
It will be supplying plasma enhanced chemical vapor deposition (PECVD) equipment.
These will be used to deposit reflection prevention films on the solar cells during their production.
It will increase the light absorption rate of the cells.
Jusung began manufacturing solar cell production equipment in 2006.
The business at one point accounted for 45% of its sales in 2011 of 145.5 billion won but revenue declined from 2012 to 2017 to between 7 billion won to 20 billion won.
In 2018 and 2019, the business accounted for less than 1% of its sales.
Jusung continued to invest in the sector however, developing equipment to handle wafers such as PECVD and other kits.
In July last year, it developed a heterojunction solar cell that had an energy conversion rate of 24.45%.
Meanwhile, Jusung was also in talks with another company to supply solar cell production equipment, people familiar with the matter said.