Published : Dec. 25, 2013 - 20:06
Hanwha Q-CELLS has launched the Kalaeloa Renewable Energy Park, a 5-megawatt solar power plant in Oahu, Hawaii. (Hanwha Group)
Hanwha Group is pinning high hopes on its solar panel business as its subsidiaries’ sales are becoming brisker, group officials said Wednesday.
Its affiliate companies Hanwha Q-CELLS and Hanwha SolarOne have posted 1,800 megawatts (1.8 gigawatts) in module sales this year, and the group’s solar power plant stood at 113 megawatts, the officials said.
Hanwha Q-CELLS turned a profit in September, just a year after the group acquired it. Hanwha SolarOne is also expected to see a reduction in production cost and a rise in sales in the fourth quarter, an official said. Hanwha Chemical’s polysilicon plant in Yeosu, South Jeolla Province, which is due to open next year, will be equipped with vertical lines of photovoltaic business including polysilicon, ingot, wafer, cell, module and power generation for the first time in the world.
The group said it has seen remarkable performance recently in the global photovoltaic market.
Last Monday, Hanwha Q-CELLS completed building the Kalaeloa Renewable Energy Park, a 5-megawatt solar power plant in Oahu of the Hawaiian Islands. The largest solar power plant in Hawaii is expected to contribute to the local government’s target to have 40 percent of its energy mix covered by renewable energy by 2030. In line with this, the company plans to start a 24-megawatt solar power project on the island.
Early this month, the company signed a deal with Mexican retailer Soriana to supply power for 31-megawatt roof-top solar power plants in 120 regions of Mexico by 2014.
Hanwha SolarOne has also shown strong performance in overseas markets. The company signed a memorandum of understanding with Jiangsu Zhongtian Technology to supply module for 150-megawatt solar power plants in Nantong and Jiangsu in China. In succession, it concluded a deal with China Huaneng Group to supply a total of 50 megawatt modules, and with Chint Group to provide 13 megawatt modules.
The global photovoltaic market is now showing signs of improvement. Several photovoltaic companies closed down during the recession in recent years, naturally leading to restructuring of the industry. The demand for solar power also began to be diversified from European countries to Japan, China and the United States. The global solar power module is expected to reach 40.8 gigawatts in 2014 from 31.3 gigawatts in 2012.
By Shin Ji-hye (shinjh@heraldcorp.com)