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Hanwha Q-Cells aims to be the world’s top photovoltaic company

Jeansun Kim  |  jeansun.kim@whowired.com
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승인 2015.02.04  16:11:32
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Hanwha starts anew as ‘Hanwha Q-Cells’ combining Hanwha SolarOne to its previous Hanwha Q-Cells, two major axis of its photovoltaic businesses. Hanwha starts anew as ‘Hanwha Q-Cells’, combining two major axis of its photovoltaic business, Hanwha SolarOne to its previous Hanwha Q-Cells. Hanwha SolarOne held a General Shareholders Meeting on the 4th in Shanghai, China and reached a decision to purchase the entire stake in Hanwha Q-Cells and launch the new business under the name of Hanwha Q-Cells. Accordingly, its businesses were integrated into Hanwha Q-Cells. 

Hanwha Q-Cells will rise to the world’s top place with 3.28GW cell production scale. It is headquartered in Janggyodong Junggu, Seoul. Hanwha SolarOne CEO Nam Sung-woo will head the new Hanwha Q-Cells. 

Its German headquarters in Thalheim will serve as a technology and innovation center to bring Germany’s technological and innovative capacity to Hanwha. The new company will also build a production base with 3.28GW cell production and 3.76GW module factory in Malaysia and China by the end of this year. Its cell production is the world’s largest and the module production comes in at 3rd. 

An official at Hanwha Group said its competitors with production capacity of 3GW or more are mostly Chinese companies hit hard by American anti-dumping measures, but Hanwha will diversify its production base. Its German base will help boost its photovoltaic business to be the world’s best in terms of quality and technologies. 
 
Hanwha Q-Cells plan to complement global sales network currently two pronged into Hanwha Q-Cells and Hanwha SolarOne with a diversified production base for better profitability. Nam said the solid financial structure with better cost competitiveness in the global photovoltaic market after the merger of the two companies will strengthen the competitiveness and help it reach 6% of operating profit with $3 billion USD in sales. 

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