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Biz News Korea(Eng)
Hanwha Q Cells to build solar power plant in Turkey
- Collected
- 2017.12.24
- Distributed
- 2017.12.26
- Source
- Go Direct
The Korean company said on Friday it would construct a 1 gigawatt solar plant using the solar ingots, wafers, cells and modules that it produces on the site.
The groundbreaking ceremony was attended by Turkish Prime Minister Prime Minister Binali Yildirim and Berat Albayrak, minister of energy and natural resources, the company said.
Under the contract, the Turkish government would purchase power from the plant for 30 years. The energy price would be fixed at $0.0699 per kilowatt hour for the first 15 years and sold at the market price in the remaining period.
The plant is scheduled to start commercial operation in the first quarter of 2019.
Hanwha Q Cells would be working closely with Kalyon, a Turkish construction conglomerate with which it formed a joint venture in September.
Hanwha Q Cells is the leading solar company in South Korea, Turkey, Australia, and the United States. It holds the second largest market share in Japan and India and has recently been making inroads in Latin America and the Middle East.
The solar power business is currently led by Kim Dong-kwan, chief commercial officer of Hanwha Q Cells and the eldest son of Hanwha Group Chairman Kim Seung-youn.
By Moon Ji-woong and Kim Hyo-jin
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]