- Construction of solar module production
facility in Georgia will commence
in 2018 and is scheduled to be completed
in 2019
- Hanwha Q CELLS aims to maintain
leading market position in the U.S. by
delivering high quality solar modules through
local U.S. production
SEOUL, South Korea,
May 30, 2018 /PRNewswire/ -- Hanwha Q
CELLS Korea Corporation ("Hanwha Q CELLS Korea") today announced
that it will build a solar module manufacturing facility in
the United States of America.
Construction for the factory in Whitfield
County, Georgia will commence in 2018 and is scheduled to be
completed in 2019. While the exact nameplate capacity of the new
facility remains undisclosed, the company confirms that it will
exceed 1.6 GW per year. The high quality modules manufactured by
Hanwha Q CELLS Korea in the U.S. will be provided to Hanwha Q CELLS
Co. Ltd. ("Hanwha Q CELLS"), which will have access to 100% of the
facility's production volume.
Maintaining a leading market position in the U.S.
With the completion of the production facility in Georgia, Hanwha Q CELLS Korea, together with
Hanwha Q CELLS, another affiliate of Hanwha Group, will have
manufacturing facilities in South
Korea, Malaysia,
China, and the U.S., at its
disposal. The new manufacturing fab is testament to Hanwha Q CELLS
Korea's commitment to the U.S. market, in spite of the recently
imposed trade barriers. According to Solar Power Europe, the U.S.
was the second largest solar market in 2017. Furthermore, the
U.S. market is also one of the most
important markets for Hanwha Q CELLS Korea. Upon commencement of
manufacturing activities in the U.S. fab, Hanwha Q CELLS Korea will
supply high quality PERC modules to the roof-top and ground-mounted
segments in the U.S. As the U.S. market has traditionally been a
market that valued performance and quality, the new plant is
expected to enable Hanwha Q CELLS Korea to widen its customer base
in the U.S.
About Hanwha Q CELLS Korea Corporation
Founded in April 2011, Hanwha Q
CELLS Korea is an affiliate of Hanwha Group. Hanwha Q CELLS Korea
operates production sites for state-of-the-art solar cells and
modules in South Korea.
Furthermore, Hanwha Q CELLS Korea is active in the solar downstream
segment in the growing Korean solar market as well as countries in
Asia and Europe. The company delivers integrated solar
power plant solutions encompassing development, construction, and
operation.
About Hanwha Q CELLS Co., Ltd.
Hanwha Q CELLS Co., Ltd. (NASDAQ:HQCL) is a global leading
photovoltaic manufacturer of high-performance, high-quality solar
cells and modules. Headquartered in Seoul, South Korea, it has its Technology and
Innovation HQ in Thalheim, Germany
and manufacturing facilities in Malaysia and China. Hanwha Q CELLS offers solar modules,
photovoltaic system solutions and large-scale solar power plants.
Through its growing global business network spanning North America, Asia, Europe,
South America, and the
Middle East, the company provides
state-of-the-art services to its customers in the utility,
commercial, government and residential markets. Hanwha Q CELLS is a
flagship company of Hanwha Group, a FORTUNE Global 500 firm and a
Top 10 business enterprise in South
Korea. For more information, visit:
http://www.hanwha-qcells.com.
Safe-Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements.
Among other things, the quotations from management in this press
release and the Hanwha Q CELLS Korea's operations and business
outlook, contain forward-looking statements. Such statements
involve certain risks and uncertainties that could cause actual
results to differ materially from those expressed in or suggested
by the forward-looking statements. Except as required by law,
Hanwha Q CELLS Korea does not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE Hanwha Q CELLS Co., Ltd.