Vertically integrated module manufacturer Hanwha SolarOne has received a five-year loan led by Standard Chartered Bank and Korea Development Bank worth US$100 million. Hanwha SolarOne has ambitious near-term plans to become a top 5 PV manufacturer. The funds were said to be used for its continued business expansion plans..
“We are pleased to expand our collaboration with Standard Chartered Bank and Korea Development Bank. The new loan facility provides us with the capital resources to fund our continued business expansion, and we view it as a critical component of our financial plan,” commented Jay SEO, CFO of Hanwha SolarOne.