Making Panels
Hanwha Q Cells Korea will build the nation’s first solar cell plant. It is a large scale plant with an annual production capacity of 1.5 gigawatts (GW).
The Hanwha Group announced on May 31 that Hanwha Q Cells Korea, the nation’s leading solar cell maker, is planning to build a 1.5 GW solar cell plant in Jincheon, Chungcheongbuk-do, by the end of this year. Hanwha Q Cells Korea will invest 350 billion won (US$315.54 million) in the plant. Until now, Hanwha has only produced solar modules in the nation.
Once the cell plant in Jincheon starts operating, the Hanwha Group will produce a total of 5.2 GW. As Hanwha Q Cells was merged in Feb., its cell production has become the largest in the world at 3.7 GW, widening the gap with its competitors.
Along with it, Hanwha Q cells decided to invest 10 billion won (US$9.02 million) into double production of its solar module plant in Eumseong, North Chungcheong Province. Accordingly, module production will increase to a total of 500 megawatts (MW) from Sept. this year.
Last month, Hanwha Q Cells closed a deal with second-largest U.S. power company NextEra Energy to supply 1.5 GW of solar modules worth 1 trillion won (US$901.55 million) by the end of 2016. The Hanwha Group explained the background of the new expansion of the plant, saying, “The one with NextEra is the biggest ever contract in the solar industry. Also, we are expecting to win additional large-scale orders and expand downstream projects, which are to establish and manage solar plants, in the future.”