SHANGHAI, Jan. 13, 2015 /PRNewswire/ -- Hanwha SolarOne
Co., Ltd. (the "Company", or "Hanwha SolarOne"), a top-10 global
photovoltaic manufacturer of high-quality, cost-competitive solar
modules, today announced it has signed an investment cooperation
agreement with Guangxi - Asean
Economic Development Zone ("GAEDZ") Administrative Committee to
establish a long-term strategic partnership with the aim to develop
distributed generation (DG) PV projects. GAEDZ will help secure
rooftop space, facilitate project approval and grid connection, as
well as aid with obtaining tax preferences and project financing.
As part of the strategic partnership Hanwha SolarOne intends to
develop, own and operate 50 MW of distributed generation projects
in GAEDZ. Either party is able to cancel the agreement with 90
day's notification.
Mr. Seong-woo Nam, Chairman and CEO of Hanwha SolarOne
commented, "Hanwha SolarOne is pleased to partner with GAEDZ as we
look to make 2015 a defining year for the company in terms of
downstream business. We believe that the government initiatives
announced in September of last year will have a far greater impact
on installations in China this
year and we hope that this agreement demonstrates our intent to be
at the forefront of the DG market." Mr. Nam concluded,
"Shipment growth of over 300% to the China market in the second half of 2014
compared with the first half exhibits our strong performance and we
are committed to further expanding our presence in the most
globally significant market in the world throughout 2015."
About Hanwha SolarOne
Hanwha SolarOne Co., Ltd. (NASDAQ: HSOL) is one of the top 10
photovoltaic module manufacturers in the world, providing
cost-competitive, high quality PV modules. It is a flagship company
of Hanwha Group, one of the largest business enterprises in
South Korea. Hanwha SolarOne
serves the utility, commercial, government and residential markets
through a growing network of third-party distributors, OEM
manufacturers and system integrators. The company maintains a
strong presence worldwide, with a global business network spanning
Europe, North America, Asia, South
America, Africa and the
Middle East. As a responsible
company committed to sustainability, Hanwha SolarOne is an active
member of the PV Cycle take-back and recycling program. On
December 8, 2014 the Company
announced the acquisition of Hanwha Q CELLS in an all-stock
transaction, which is expected to close during the first quarter of
2015 (see filings with the SEC for full disclosure). For more
information, please visit:
http://investors.hanwha-solarone.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 Company'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 in the forward-looking statements. Further
information regarding these and other risks is included
in Hanwha SolarOne's filings with the U.S.
Securities and Exchange Commission, including its annual report on
Form 20-F. Except as required by law, the Company does not
undertake any obligation to update any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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SOURCE Hanwha SolarOne Co., Ltd.