Hyundai Heavy Industries suspends production at PV panel facility in Korea

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

Hyundai Heavy Industries has suspended production at its 50MW solar cell and module plant in Eumseong, South Korea.

Manufacturing at the site, which was built in 2007 and is the smallest of three Hyundai solar facilities in Eumseong, was actually halted back in June, although the decision was only made public today. The move is a response to the solar industry’s slowdown over the past 12 months – a by-product of feed-in tariff uncertainty and wider economic difficulties in Europe and the US.

However, Hyundai are eager to outline that the hiatus in production is merely temporary and does not signal the start of a more permanent scaling back of its solar operations. “Amid the declining solar industry worldwide, we suspended the operation of the No.1 plant in June, and workers who had belonged to the facility have moved to the other two plants nearby,” said a Hyundai spokesman. “Once the situation improves, we’ll restart the operation of the plant.

“In the first half of the year, the operational rate of the three plants remained at 70% or more, but the rate has reduced to 50% these days. As the solar energy industry declines, our original plan to expand the solar business has to be modified in a flexible manner for the time being.”

This decline is likely to scupper the original growth plan for Hyundai’s solar and renewable energy divisions; it planned to ramp up combined capacity at its three PV facilities to 1GW – current capacity is 600MW – and to generate sales worth US$1.8 billion from the alternative energy sector by 2012.

19 July 2022
As New South Wales is gearing up to become a renewable energy superpower, an exciting clean energy event is coming to Sydney. Energy Next is a free-to-attend industry event focusing on the latest renewable energy and energy management technologies, which will be held from 19-20 July 2022 at the ICC Sydney in Darling Harbour. Organised by the same people behind the country’s largest clean energy event, All-Energy Australia, Energy Next will bring a quality exhibition and technical session series to NSW. Energy Next will also host the Clean Energy Council’s Solar Masterclass with a program developed for solar designers and installers. Across two days, Energy Next will provide an extensive exhibition, workshops and networking opportunities for those working in the renewable energy industry to meet with leading suppliers, discover the latest technologies and gain an understanding of how to successfully launch new clean energy projects.
21 July 2022
The rooftop solar PV market is set for significant growth, but installers are being held back by complicated design software that is slow, cumbersome and fails to take into account rooftop shading, module compatibility and energy storage. Huawei’s SmartDesign 2.0 is a web-based PV and energy storage system tool that promises to solve all of those issues, and much more. This webinar will provide a live demonstration of the SmartDeisgn 2.0 tool, showing how installers can quickly complete Huawei PV & ESS system designs and assemble a professional report with 3D site view for potential customers, streamlining the design and sales service.
23 August 2022
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil, on August 23–25, 2022, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry. In 2021 – despite the Covid-19 pandemic – Intersolar South America welcomed more than 28,000 visitors and over 1,000 conference attendees over 3 days. 200+ providers showcased their products. Combining local and international expertise, Intersolar South America brings together the PV and solar thermal sector to discuss the current status and strategic trends for Latin American PV markets, as well as technology innovations and new business opportunities. Overall, distributed generation is still driving momentum in the Brazilian market.
6 September 2022
Intersolar Mexico sits at the cross-section of photovoltaics, solar heating & cooling technologies, and energy storage. The event serves as the industry’s go-to source for invaluable technology trends and premier B2B contacts in the promising Mexican solar market. From September 6–8, 2022 Intersolar Mexico together with the co-located The GREEN Expo® and Aquatech Mexico will take place in Centro Citibanamex, Mexico City.
19 September 2022
RE+ 2022 is the umbrella event that includes SPI, ESI, RE+ Power, and RE+ Infrastructure. As North America's largest renewable energy event, it's a catalyst for industry innovation that's supercharging business growth in the clean energy economy.
20 September 2022
From source to generation, from grid to consumer, the boundaries of the sector are blurring and this evolution is being shaped by established players, external disruptors, innovative start-ups and the increasingly engaged end-user. Enlit Asia is the unifying brand for POWERGEN Asia and Asian Utility Week, showcases expert knowledge, innovative solutions and foresight from industry leaders, coherent with Asian strategy to achieve a smooth transition towards a low carbon energy supply. This year, Enlit Asia will be co-located with Sustainable Energy Technology Asia (SETA) & Solar & Storage Asia (SSA).

Read Next

July 4, 2022
Tongwei has become the latest upstream solar manufacturer to increase prices as the cost of raw materials continues to spiral.
July 4, 2022
Shell Overseas Investments and renewable energy company Emerging Power Inc. (EPI) have agreed to jointly develop, own, operate and maintain 1GW of utility-scale solar PV in the Philippines by 2028.
July 4, 2022
Thin-film technologies such as cadmium telluride and perovskites can markedly reduce the carbon intensity of PV compared with silicon alternatives, according to researchers at the US National Renewable Energy Laboratory (NREL).
July 4, 2022
S&P Global Commodity Insights has partnered with renewables advisory firm Pexapark to create a new power purchase agreement (PPA) benchmark.
July 4, 2022
Norwegian energy data and intelligence company TGS has acquired renewable energy asset and real-time data manager Prediktor.
July 1, 2022
Hanwha Qcells’ power plant division Q ENERGY Europe has teamed up with newly rebranded Q ENERGY France to establish umbrella company Q ENERGY Solutions SE as it seeks to deepen its ties to the European market where it has a 12GW development portfolio.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event