S-Energy Co., a Korean renewable energy solution company, is entering the solar power market in Hungary.
The firm announced on Sept. 19 that it has signed a memorandum of understanding (MOU) with Profiszolar, the premium solar power installer in Hungary, to supply US$10 million (11.94 billion won) worth of solar power modules over the next five years. The two companies have entered into partnership in 2011 and have been expanding cooperation since 2016.
The Hungarian solar power market is estimated at 500 MW a year and has been on a steady growth path.
Profiszolar is leading the Hungarian solar power market with the know-how and technologies it has accumulated over the years.
The quality of solar power modules produced by S-Energy has gained a wide recognition from around the world for its strong durability and long-term safety. With the latest strategic partnership with Profiszolar, the company is planning to gradually raise its share of the solar market in Eastern Europe, including Hungary.
An S-Energy official said, “S-Energy’s products have helped Profiszolar become a premium brand in the Hungarian home solar power market based. We are planning to jointly carry out medium- and large-sized projects at home and abroad with Profiszolar and aim for the global solar power market in the future.”