Polysilicon feasibility studies that survive the FID room.
Independent technical, commercial, and financial feasibility — delivered by engineers who've operated polysilicon plants, with numbers that hold up to lender scrutiny.
Not a slide deck. A defensible technical, commercial, and financial document.
A polysilicon feasibility study has to answer one question honestly: is this a good idea? The wrong kind of study is a marketing document written to help a sponsor push an FID past the finance committee. The right kind of study is an independent technical, commercial, and financial analysis that survives scrutiny from lenders, boards, and government sponsors — and protects the owner from the decisions they'd regret five years in.
NEXARSiL's feasibility studies are delivered by engineers with direct polysilicon operating experience. We use operating-plant benchmarks, not vendor assumptions, and we build our own CAPEX and OPEX models from the ground up. If the numbers don't work, the study says so. If they do, the study gives the board a defensible basis to commit capital.
The full stack — technical, commercial, financial.
Market positioning
Solar vs semiconductor, target grade, regional supply/demand, realistic pricing corridors.
Technology route
Siemens, FBR, or hybrid — selected to match the target purity, market, and local constraints.
Site screening
Utilities, power, cooling, logistics, HCl and H₂ supply, effluent, and regulatory exposure.
CAPEX model
Line-by-line estimate benchmarked against real projects. Margin, contingency, and escalation explicit.
OPEX model
Energy, Si feedstock, hydrogen losses, maintenance, labor, and specialty chemicals from real plants.
Financial model
Project cash flow, IRR, payback, sensitivity, and lender-grade stress tests.
Risk register
Technical, commercial, financial, and regulatory risks scored with owner-specific mitigations.
Decision memo
A board-ready summary that lets the sponsor commit, pause, or redesign — on real numbers.
Eight to twelve weeks for a full study.
Scoping & market
Weeks 1–2. Confirm target market, grade, capacity, and location envelope.
Technology & site
Weeks 3–5. Process route selection, site screening, utility availability.
CAPEX & OPEX
Weeks 5–8. Line-by-line CAPEX model, OPEX benchmarks, and energy balance.
Financials & risk
Weeks 8–10. Project cash flow, sensitivities, lender tests, risk register.
Deliverables
Weeks 10–12. Board memo, full technical report, and Q&A sessions with the sponsor team.
Greenfield developers
Pre-FID studies that get projects through finance committee.
Brownfield expansion
Studies for capacity additions, conversion between grades, or process upgrades on existing sites.
Lenders & investors
Independent technical due diligence for debt and equity decisions.
Government programs
Feasibility for national or regional polysilicon localization initiatives.
What NEXARSiL reviews — and what you receive
What we review
- Process design basis and technology maturity
- CAPEX build-up and vendor quote validation
- OPEX model benchmarked against real operating plants
- Market and grade assumptions
- Licensor references and track record
- Site conditions and utility inputs
- Financing structure and lender requirements
What you receive
- Independent feasibility study suitable for lenders, boards, and investors
- CAPEX/OPEX model built from real plant benchmarks, not vendor estimates
- Written technology assessment with grade and process route comparison
- Risk register covering technical, commercial, and execution risks
- Board memo and Q&A sessions with the sponsor team
Common project risks this addresses
- Overreliance on vendor-supplied CAPEX/OPEX estimates
- Unverified technology performance claims
- Financing assumptions not grounded in real plant data
- Grade or market assumptions that don't reflect actual buyer requirements
Decisions you can make after
- Whether to proceed to FID or request further scoping
- Which technology route or licensor to shortlist
- What conditions to place on licensor selection
- How to structure the financing approach
Questions we often get about this
Is the feasibility study bankable?
Yes. We structure the study so lenders and development-finance institutions can use it as part of their technical due diligence. We've delivered studies that have supported project finance and export-credit transactions.
Can the study evaluate multiple technology routes at once?
Yes — this is common for greenfield projects. We model Siemens, FBR, and hybrid routes in parallel and compare them on technical, financial, and risk axes before recommending.
Do you use vendor data or your own numbers?
We use vendor data only as an input, and we benchmark every number against real operating plants. If a vendor claim doesn't match what operating plants actually deliver, we use the operating number and explain the delta.
Talk to an independent polysilicon technology partner.
Confidential conversation. No obligation. Real production experience from the first call.