SEOUL, South Korea | Hanwha Q CELLS —
Hanwha Q CELLS has signed 70 megawatts (MW) supply contract with Ramnad Solar Power, a subsidiary of Adani Group of India.
The module will be installed at Tamil Nadu province in the southern part of India and construction will commence in October 2015 and is scheduled for a completion by February 2016.
India is one of the most rapidly growing solar markets in the world with strong government’s policy support. In 2014, Prime Minister Modi announced its plan to reach 100 GW installed PV power generation by 2020.
“Hanwha Q CELLS is pleased to have partnered with Adani Group, one of India’s major energy companies” said Mr. M.Y. Kim, Sr. Vice President of Hanwha Q CELLS in India. Mr. Kim also added “Solar has received increased support from the government and India has now become one of the more interesting emerging markets.”
About Hanwha Q CELLS
In February 2015 Hanwha Q CELLS Co., Ltd. (NASDAQ: HQCL) emerged as a new global solar power leader from combining two of the world´s most recognized photovoltaic manufacturers, Hanwha SolarOne and Hanwha Q CELLS. The combined company is listed on NASDAQ under the trading symbol of HQCL. It is headquartered in Seoul, South Korea, (Global Executive Headquarters) and Thalheim, Germany (Technology & Innovation Headquarters) and is the world’s largest solar cell manufacturer as well as one of the largest photovoltaic module manufacturers. Due to its diverse international production setup including facilities in China, Malaysia and South Korea, Hanwha Q CELLS is in the unique position to flexibly address market needs globally, even including certain key markets with import tariffs, such as the USA and the European Union. Based on its well respected “Engineered in Germany” technology, innovation and quality, Hanwha Q CELLS offers the entire range of outstanding photovoltaic products, applications and solutions, from modules to kits to systems to large scale solar power plants. The combined company is also engaged in downstream development and EPC business. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East the company provides excellent services and long-term partnership to its customers in the utility, commercial, government and residential markets.