Hanwha SolarOne signs MoU to expand China downstream business

Facebook
Twitter
LinkedIn
Reddit
Email

Tier one manufacturer Hanwha SolarOne has begun establishing a “long-term strategic partnership to develop downstream PV projects” with the Wuxi New District Administrative Committee in China.

Wuxi New District is on the eastern coast of China and was designated an industrial zone in the early 1990s, aimed at attracting investment from abroad. Hanwha SolarOne and the regional committee have signed a memorandum of understanding (MoU) to the effect that the administrative committee will provide rooftop space for PV projects, facilitate approvals from local government and ensure grid connection.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Wuxi New District Administrative Committee will also assist Hanwha SolarOne in gaining preferential tax treatment as well as project financing.

The deal is planned to ultimately result in Hanwha SolarOne becoming the owner and operator of 100MW of distributed generation of projects in the district.

The company’s chief financial officer, Jay Seo, said the agreement with committee marked “another important step” for Hanwha SolarOne in developing its downstream business in China. Seo stated that the company intended to become a significant project owner and operator in China.

“We feel confident that this latest business development, coupled with a number of previous announcements, serves as a solid foundation to establish a growing PV project portfolio in 2014,” said Seo.

In February Hanwha Solar One raised US$21 million from a share issue, although this fell some way short of a hoped-for US$70 million.

Earlier this month, Hanwha SolarOne announced that it aimed to meet an expected module shipment growth of 25% this year by expanding the company’s solar cell and PV module capacity, spending around US$80 million of capital in the process. 

The company also announced this week that it supplied 6.2MW of modules to a project under construction by two Spanish companies in Guatemala.

Read Next

July 8, 2025
The Chinese government has moved to curb excessive competition in the PV sector and stabilise pricing as companies report growing losses.
July 8, 2025
Germany could install 500GW of new solar agrivoltaics (agriPV) capacity on its most 'suitable' land, according to Fraunhofer ISE.
July 8, 2025
Bulgarian-headquartered solar engineering company Sunotec has acquired 100% of the project company, SIA DSE Lazas Solar, from Danish Sun Energy. 
July 8, 2025
Donald Trump has issued an executive order to tighten restrictions on renewable energy tax credits just days after signing his “One, Big Beautiful Bill” act into law, which significantly cut federal support for renewables.
July 8, 2025
German solar glass manufacturer Glasmanufaktur Brandenburg (GMB) has filed for insolvency after posting monthly losses of €900,000 this year.
July 8, 2025
Energy consultancy JMK Research has forecast 28.3GW of utility-scale and residential solar PV to be installed in India during fiscal year 2026.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK