Hanwha Q CELLS Korea will move forward with the floating power generation business with Korea Hydro & Nuclear Power (KHNP).
On July 21, Hanwha Q CELLS Korea signed a memorandum of understanding (MOU) with Hanwha Solar Power, Korea Hydro & Nuclear Power, and Solkiss to go ahead with the energy business using floating solar power generation technology of Korea’s own development.
The floating solar power generation project is scheduled to be carried out in Korea to produce 80MW. These companies will cooperate in expanding the business at home and exports to overseas countries in the future.
Under this MOU, Hanwha Q CELLS Korea will supply modules and engage in the EPC work and Hanwha Solar Power will fund business development and carry out equity investment. KHNP will be in charge of business management, financing, and helping purchase a renewable energy certificate (REC). Solkiss will participate in construction by providing patented technology, securing business sites, and supplying floating structures.
Floating photovoltaic power generation is a new form of power generation that combines existing ground-based PV technology with floating structure technology. Floating power generation has advantages of the efficient use of land, module cooling effects, and avoiding shades. The solar power plant that Hanwha Q Cells Korea will build this time is a rotary solar photovoltaic power plant that tracks the sun. This type can generate more than 10% to 20% more power than a conventional floating solar power plant.