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Hanwha Q Cells PV module manufacturing business to be merged to Hanwha Q Cells Korea after spinoff

Collected: 2016.05.05

Distributed: 2016.05.09

Source: Go Direct

Hanwha Q Cells Corp., Hanwha Group’s solar power division, announced on Tuesday that it will spin off its photovoltaic (PV) module manufacturing business and merge it to Hanwha Q Cells Korea Corp. to increase efficiency.

Hanwha Group runs a solar cells manufacturing facility in Jincheon and a photovoltaic (PV) modules facility in Eumseong, Chungcheongbuk-do Province. The Jincheon plant is owned by Hanwha Q Cells Korea, a subsidiary of Hanwha Corp., and the Eumseong plant is owned by Hanwha Q Cells, a subsidiary of Hanwha Chemical.

Hanwha Group said it has decided to spin off the module manufacturing business to merge it to Hanwha Q Cells Korea to improve efficiency. “Hanwha Q Cells Korea will focus on manufacturing, while Hanwha Q Cells will be in charge of business strategies,” said an unnamed official at Hanwha.

This year’s PV module shipments of Hanwha Q Cells are expected to grow 38 percent from the previous year to reach 4.0~4.7 gigawatts (GW).

By Kim Jeong-hwan

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