Hanwha Solutions has unveiled plans to invest US$320 million in cell and module manufacturing capacity expansions in the US and Korea.
A total of US$170 million is to be spent on the construction of a 1.4GW module production facility in the US, strengthening the company’s position in the US module market.
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Hanwha unit Qcells already operates a 1.7GW module factory in Georgia and the capacity addition, slated to come online in H1 2023, will mean Qcells is responsible for around one-third of the US’ total solar module production capacity.
In a press conference held yesterday and attended by PV Tech, Qcells president Justin Lee confirmed that the new facility will wholly produce residential PV modules, with the company aiming to cement its position in that particular market.
Meanwhile cell production capacity at Hanwha’s existing cell production facility in Korea will be expanded by a further 900MW through an investment of US$150 million.
Hanwha noted it was the first investment in Korean cell manufacturing in five years.
Hanwha is too aiming to address several areas of its supply chain, decarbonising PV panel manufacturing through the use of low-carbon polysilicon from providers including OCI, with which it agreed a 10-year polysilicon supply deal last month, and REC Silicon, of which Hanwha is now a major shareholder.
PV Tech will be publishing more insight surrounding Qcells’ manufacturing capacity expansions plans shortly.