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

December 5, 2013
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

October 23, 2025
The average price of a solar PPA signed in Europe in Q3 2025 fell below €35/MWh, reaching €34.25/MWh, according to LevelTen Energy.
October 23, 2025
Infrastructure investment firm Nuveen Infrastructure has secured US$171 million in financing for a 137MW solar PV plant in South Korea.
October 23, 2025
US solar manufacturer T1 Energy sold approximately 725MW of solar modules in Q3 2025, as it continues to expand US manufacturing capabilities.
Sponsored
October 23, 2025
Tongwei's rooftop-focused TNC 2.0 G12R-48 module will be among the products on show at All Energy Australia next week.
October 23, 2025
Solar PV technology has maintained its leading position as the most cost-competitive power generation source in 2025, according to analyst Wood Mackenzie.
October 23, 2025
Aviva Investors and Astatine have announced an €800 million (US$928 million) investment in renewable energy and decarbonisation solutions.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal