Hanwha Q Cells, the solar energy unit of South Korea’s Hanwha Group, has sold off its three solar power plants in operations in the United Kingdom to NextEnergy Solar Fund in a 100 billion won block deal.
(Hanwha Q Cells)
The company said Wednesday it sold Fenlend Farm (20.4 MW), the Green End PV parks (24.8 MW) and the Tower Hill Solar Park (8.1 MW) to the U.K.-based fund earlier this month.
The block deal also marks the first time that Hanwha has sold its solar plants -- built exclusively with its own technology from equipment to grid design and installation -- to a third party, according to Hanwha.
“The transaction demonstrates that Hanwha Q Cells is a reliable and valued partner in the field of large-scale PV assets,” said Jose Joaquin Munoz Osuna, vice president of project finance in the European region at Hanwha Q Cells.
Hanwha Q Cells currently operates multiple solar power plants overseas including in China, Japan, Turkey, Portugal and Mexico, which boast a combined output of 70 MW.
Taking into account the new solar facilities currently under construction in the United States and India, Hanwha’s total solar energy output rises to 448 MW globally.
By Sohn Ji-young (
jys@heraldcorp.com)
