Hanwha Solar One signs deal to accelerate downstream activities in China

Facebook
Twitter
LinkedIn
Reddit
Email

Hanwha Solar One has signed a memorandum of understanding (MOU) with Jiangsu Zhongtian Technology to jointly develop, construct, finance and grid-connect PV projects.

The cooperation has been described as the latest step in “accelerating downstream activities in China” for Hanwha Solar One. Ahead of the move Hanwha Solar One struck a deal with the Bank of Beijing for a three-year credit facility worth US$574 million.

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

The MOU brings the two companies into a long-term strategic partnership, with a definitive strategic cooperation agreement expected to be entered into within 90 days of the signing. Jiangsu Zhongtian Technology (ZTT) began as a manufacturer of optical fibre cabling for communications, including an involvement in developing China’s telecommunications and electrical grid infrastructure. ZTT has since diversified into green energy, offering a range of services including developing distributed power stations, micro grids and large capacity lithium-ion batteries.

The first project for the two companies to collaborate on will be a 150MW distributed energy project for which ZTT has already obtained permission in Nantong, Jiangsu Province, China, with Hanwha Solar One supplying PV modules.

Hanwha Solar One chief financial officer Jay Seo said: “The contemplated cooperation on ZTT's 150 MW distributed generation project in Nantong, as part of the government's initial national level demonstration pilot, will be a strong start to the relationship between our two companies, and we are confident that further synergies will result in additional business opportunities for both companies. We aim to build up our track record and project profile in EPC to include IPP development and ownership. We will actively participate in China's aggressive programme to develop renewable energy.”

Read Next

Premium
October 10, 2025
Gaëtan Masson of IEA PVPS warns of overcapacity, collapsing prices and slipping module quality in the new Trends in PV Applications report.
October 10, 2025
The European solar module market has reached a “state of equilibrium” in recent weeks, with stable prices and regular demand.
October 10, 2025
US solar recycling firm OnePlanet has achieved the R2v3 certification from electronics sustainability non-profit SERI, which represents the “highest standards of traceability”.
October 10, 2025
NTPC Renewable Energy Limited has signed an MoU with the Government of Gujarat to develop 15GW renewable energy projects in Gujarat.
October 10, 2025
Australia's renewable energy sector recorded its slowest month of the year for additions in September, with 5.8GW of new projects added to development pipelines, according to data from Rystad Energy.
October 9, 2025
The Australian government has announced the results of the fourth Capacity Investment Scheme (CIS) tender, with 6.6GW of renewables awarded long-term contracts.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK