Hanwha Q CELLS to expand capacity following US$188 million cash injection

Facebook
Twitter
LinkedIn
Reddit
Email

Hanwha Chemical the owner of PV module manufacturer, Hanwha Q CELLS has made a US$188.5 million cash injection into the company to expand capacity and expand its downstream PV project business.

“The capital increase will further strengthen our balance sheet as well as the bankability of our high quality and low LCOE photovoltaic solutions,” said Charles Kim, CEO of Hanwha Q CELLS. “Thus we solidify Hanwha Q CELLS´ position as [the] reliable partner in PV industry and underline our overall commitment to become a leader in solar.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

However, the company did not provide details on what the increased capacity levels would be. The majority of Hanwha Q CELLS integrated module capacity is based in Malaysia, with a high-efficiency plant in Germany.

“We will integrate one additional production line at our manufacturing site for solar cells in Malaysia,” added Kim. “Accordingly we will raise capacities for module production together with our certified partners in Europe and Asia.”

Sister company, Hanwha SolarOne, based in China, recently said that it expected to increase module OEM production on behalf of Hanwha Q CELLS, adding to the growing level of outsourcing seen in the industry.

Many companies are restricting capital spending to use funds to build-up downstream project pipelines and restrict capital spending to module assembly expansion due to low capital requirements and the ability to use underutilised capacity at tier two and three module manufacturers in China.

Hanwha Q CELLS noted that its planned expansions in capacity and the downstream power plant solutions business would boost its business prospects in 2014.

“On the basis of our high quality solar cells, modules and PV applications “Engineered in Germany”, we will further strengthen our position as the competent partner for PV power plant solutions in 2014 – including project development, EPC, financing and other services,” added Kim.

The company recently announced business plans to boost its commercial downstream business model in the US, a key potential growth market.

Read Next

September 17, 2025
Spanish IPP Velto Renewables has acquired a portfolio of 53 operational solar assets in Spain with a combined capacity of 260MW.
September 17, 2025
Struggling Swiss solar manufacturer Meyer Burger has formally entered into a debt moratorium, with the possibility of rescuing the entire group now looking unlikely.
September 17, 2025
Nexamp has secured US$350 million through a long-term financing facility to expand its 6GW utility-scale solar and battery storage pipeline in the US. 
September 17, 2025
Chinese module producer DAS Solar is planning a 5GW manufacturing facility focused on producing high-efficiency back contact cells.
September 17, 2025
The California State Legislature has passed two bills that aim to reduce energy prices in the state, AB 825 and SB 302.
September 17, 2025
QatarEnergy has signed an EPC agreement with Samsung C&T for its 2GW Dukhan project. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA