Hoku borrows $28.3M for Idaho polysilicon plant
Hoku Corp. is borrowing $28.3 million from China Construction Bank to complete its polysilicon production plant in Idaho, the company said Wednesday.
The Honolulu-based energy company’s subsidiary, Hoku Materials Inc., is constructing a plant near Pocatello to produce the polysilicon used in solar energy harnessing.
Hoku will have 90 days to borrow as much as the entire $28.3 million, which it must repay by June 14, 2012, it said.
The company received $20 million in debt financing in May from China Merchants Bank for the production of polysilicon.
Read more in Pacific Business News of Honolulu.
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