Hanwha solar one to build Korean facility
Hanwha SolarOne is set to build a new solar photovoltaic module factory in South Korea.
The company will invest $12 million in the facility which will have an annual manufacturing capacity of 230 megawatts of solar modules.
The facility is scheduled to begin production by the second quarter of 2015. Hanwha SolarOne will hire around 200 new employees to work in the facility, including research and development personnel.
Hanwha SolarOne is building the facility to service local Korean demand for solar modules as well as to further diversity the company’s manufacturing capacity.
“Hanwha SolarOne is proud to help South Korea become greener with clean solar electricity,” said Seong-woo Nam, chief executive officer of Hanwha SolarOne. “This new facility will also further diversify our manufacturing footprint, allowing us to offer tariff-free modules to the U.S.”
The new facility will add to current expansions already underway by which Hanwha SolarOne is looking to increase their cell production by 1.5 gigawatts and module production to 2 GW by end of the year. When the new facility is completed, Hanwha SolarOne’s total module capacity will reach 2.23 GW.
Hanwha SolarOne is a photovoltaic module manufacturer that is a flagship company of Hanwha Group, one of the largest business enterprises in South Korea. The company serves the utility, commercial, government and residential solar markets and has a global business network spanning Europe, North America, Asia, South America, Africa and the Middle East