“If service is terminated, these high value systems may freeze, causing irreparable and material damage to Hoku’s plant assets. Any damage would need to be repaired, at additional cost, prior to continuing with the commissioning and operation of the plant.”-Hoku Corporation complaint to Idaho Public Utilities Commision
“The fact of the matter is, Hoku has missed a payment it owes to Idaho Power and has failed to provide….any assurance that such a payment will be forthcoming. Idaho Power has concerns that if the commission allows the Hoku complaint to run the usual course….Hoku could potentially become millions of dollars delinquent in amounts it owes.”-Idaho Power response
Pocatello, Idaho’s, polysilcon factory, run by Hoku Materials (which is a subsidiary of Hoku Corporation, which is 60% owned by China’s Tianwei New Energy Holdings Company Limited) has run into trouble with Idaho Power, again.
Hoku failed to pay its electric bill, and Idaho Power says it will discontinue service. Hoku was served with the disconnect notice on December 22. This is not the first time Hoku has had trouble with their electric bill.
Earlier this month, Chinese media reported that Hoku had started operations, but now it’s clear that was just wishful thinking by Tianwei New Energy Holdings Company Limited. The Chinese claim was based on Hoku CEO Scott Paul saying things were ready to go back on November 21.
This just adds to the ever growing problems with Hoku: Their CFO resigned, they lost nearly $8 million in their last reporting quarter, they had to sell majority shares to Chinese companies (as well as take Chinese loans) to raise enough money to finish construction of their factory, and the ongoing tit for tat trade war between the U.S. and China (involving U.S. made polysilicon and Chinese made photo voltaic products) could mean curtains for a company that has hundreds of people in the Chubbuck/Pocatello area hoping to get a job with Hoku.
GLOBAL ECONOMIC WAR: IDAHO POLYSILCON PRODUCER, HOKU, QUIETLY STARTS OPERATIONS, LOSES MILLIONS OF DOLLARS AGAIN