“We are positioned to bring the first 2,500 metric tons of manufacturing capacity online in the coming weeks, and we continue commissioning key systems on site.”-Scott Paul, CEO of Hoku Corporation

After years of continued promises of local hiring and construction delays, due to financial problems, Hoku claims it will finally start polysilicon production within weeks.

However, Idaho Power insists that Hoku pay up front for its electricity, Hoku officials claim they’ve already paid $5.3 million to the utility.  This is just part of a long list of financial problems the wannabe polysilicon maker has had.

It’s ironic that a solar power “products and services” company must rely on an old fashioned electric utility to provide power to run their new 2,500 metric tons of polysilicon factory.

Hoku Corporation has already lost $10.2 million during the second quarter of 2011.  The solar power products company is based in Hawaii.  Their polysilicon Hoku Materials plant is located in Pocatello, Idaho.

Hoku has been getting financial help from a Chinese company; Tianwei New Energy Holdings.

Hoku salesmen oversold their company’s product, and now they’re scrambling to issue refunds, and offer discounts on existing contracts for waiting so long for their product.

All current orders for polysilcon are delayed, no thanks to the financial problems that have delayed construction of the Pocatello plant for the past couple of years.  Expect Hoku to continue reporting losses as a result.

2010: HOKU TURNING TO CHINA TO HELP FINISH POCATELLO PLANT