SunEdison, Inc. (St. Peters, Missouri, U.S.) has announced a series of agreements with Samsung Group (Seoul), including a joint venture to build a polysilicon plant in South Korea. SunEdison will hold a 35% share in SMP's new polysilicon facility, which will utilize a fluidized bed reactor design, and Samsung's Fine Chemicals subsidiary will retain a 15% share.

The company plans to complete the plant in the second half of 2014, upon which it will supply solar grade polysilicon to SunEdison and later semiconductor grade polysilicon to newly independent semiconductor business SunEdison Semiconductor Ltd. (SSL).

Additionally, SSL will purchase Samsung's remaining 20% share in MEMC Korea Company, in exchange for SSL shares through a private placement. Finally, SSL will supply semiconductor wafers to Samsung.

“We look forward to a continued strong relationship with Samsung Fine Chemicals as a key investor and business partner,” notes SunEdison Chief Financial Officer Brian Wuebbels.

SunEdison shifts focus to solar PV

These transactions will occur concurrently with the SSL's initial public offering. SunEdison announced plans to spin off its semiconductor business in 2013, along with its name change from MEMC to reflect its focus on solar photovoltaic (PV) manufacturing and project development.�