Major tier-1 PV manufacturer Hanwha Q CELLS has secured a US$20 million line of credit from Wells Fargo Capital Finance for its US downstream project business.
Wells Fargo bank has been a long-term player in the US PV market having supplied the likes of SunEdison and JinkoSolar with credit facilities to support residential, commercial and utility-scale PV power plant construction.
Ms. Kimberly Jablonski, senior vice president at Wells Fargo Capital Finance said, “It is a pleasure to work with one of the world's largest solar energy companies, which is rapidly expanding in the US solar market. We look forward to a long-lasting relationship with Hanwha in helping it bring solar energy throughout America.”
“The US is a key strategic market for our company and we are particularly well-positioned to capture share with our diverse 'tariff free' manufacturing base outside of mainland China,” added Jay Seo, chief financial officer of Hanwha Q CELLS.
Hanwha Q CELLS recently said it planned to supply at least 600MW of PV modules to the US in 2015 that would be tariff-free, using production facilities in Malaysia and South Korea.