Tier 1 PV module manufacturer, Hanwha SolarOne has won a follow-on module supply deal with power generation firm Baotou Shansheng New Energy Co.
Hanwha SolarOne will supply 50MW of modules starting in October, 2014 through the end of November, 2014 for ground-mounted projects in Hohhot and Baotou, Inner Mongolia.
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Jay Seo, Chief Financial Officer of Hanwha SolarOne and head of Hanwha SolarOne's China business said, “We have now signed 100 MW in module supply agreements with deliveries taking place between August and November this year, alone representing approximately a four-fold increase in volumes shipped to China during the first half of 2014.We anticipate further momentum in our China business as the Chinese government has formalized its 13 GW target for solar installations in 2014 and outlined last week some critical steps to support distributed generation.”
The company recently reported module shipments increased 4.9% to 339.5MW in the second quarter of 2014, guiding shipments of approximately 400MW in the third quarter and full-year shipments to be in the range of 1.5GW o 1.6GW.