Hanwha Q CELLS Acquires Tower Hill Solar Farm from Green Hedge Group
[London, United Kingdom/Thalheim, Germany, 29 January, 2015] Green Hedge Group ("Green Hedge") and Hanwha Q CELLS today announced that the internationally leading PV provider has acquired the project rights to build the Tower Hill solar farm in South Gloucestershire, UK, for an undisclosed amount. Green Hedge has successfully taken the 6.46 MW project from inception through to planning consent and a ready-to-build state, thereby completing the development of Green Hedge's 18th UK solar farm project. The financials of the acquisition have not been disclosed.
Hanwha Q CELLS will now build and own the Tower Hill solar farm. Once operational, it will provide enough electricity for over 1,800 households. Green Hedge will continue to stay involved with the project as operations and maintenance sub-contractor to Hanwha Q CELLS.
Considerate design and community engagement have been central to the development of the project. Practical commitments in the project developed by Green Hedge, which are to be implemented by Hanwha Q CELLS, include establishing 10.6 hectares of improved grasslands, creating three wildflower meadows, two new pond habitats and a log pile habitat, as well as significant planting of trees and hedgerows, encouraging biodiversity and protecting the site visually. It is anticipated that the landowner will continue to maintain the dual-use nature of the site by grazing sheep underneath the solar panels for the duration of the solar farm's operating life. At the end of the 25-year project term, the site will be returned to its original condition.
As part of its agreement with Green Hedge, Hanwha Q CELLS has also confirmed that following connection of the solar farm to the electrical grid, expected in March 2015, and until the decommissioning of the solar farm in 25 years' time, an inflation linked annual payment of £5,810 will be provided to and shared between Thornbury Town Council and Tytherington Parish Council. The funds, approximately £145,250 over the lifetime of the solar farm, will be used for the benefit of local residents.
Tess Sundelin, Managing Director at Green Hedge, said, "We are delighted that Hanwha Q CELLS will now take on the project and see the Tower Hill solar farm through construction and into the operating phase. The solar farm will be a significant source of green electricity for South Gloucestershire and provide important financial benefits to the local community. We are also delighted to continue our own involvement as operations and maintenance sub-contractor."
Kieron Kane, Head of Project Development UK at Hanwha Q CELLS, said, "We are very happy about realising the Tower Hill Solar Farm in cooperation with Green Hedge. The project will further deepen Hanwha Q CELLS´ footprint as a provider of reliable Power Plant Solutions to our customers, communities and our partners in the UK."
For more information:
- Hanwha Q CELLS GmbH
- Sonnenallee 17-21
- 06766 Bitterfeld-Wolfen (OT Thalheim), Germany
- Corporate Communications
- Jochen Endle, Robert Reinsch
- Tel: +49 (0)3494 6699 10121
- Email: email@example.com
- Managing Directors
- Jinseog Choi, Ji Ho Shin, Koo Yung Lee, Kye Chun Son
- Green Hedge Group – Media Contact
- Juliet Callaghan
- Tel: +44 (0)203 3289 383 / 0796 8819 273
- Email: Juliet.firstname.lastname@example.org
- Alex Rowbottom
- Tel: +44 (0)203 328 9384 / 07734 568 590
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Hanwha Q CELLS
Hanwha Q CELLS Co., Ltd. (NASDAQ:HQCL) is one of the world’s largest and most recognized photovoltaic manufacturers for its high-performance, high-quality solar cells and modules. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with its diverse international manufacturing facilities in Malaysia and China. Hanwha Q CELLS offers the full spectrum of photovoltaic products, applications and solutions, from modules to kits to systems to large-scale solar power plants. 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 partnerships to its customers in the utility, commercial, governmental and residential markets. Hanwha Q CELLS is a flagship company of Hanwha Group, a FORTUNE Global 500 firm and a Top 10 business enterprise in South Korea.
For more information, visit: www.hanwha-qcells.com
Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in South Korea and a “FORTUNE Global 500” company. Hanwha Group has 61 domestic affiliates and 325 global networks in three major sectors: manufacturing and construction, finance, and services and leisure. With more than 65 years track record of industrial leadership, Hanwha’s manufacturing and construction businesses encompass a broad range of fields from chemicals & materials, aerospace & mechatronics, total solar energy solutions, and global construction. The finance network, covering insurance, asset management and securities, is the second largest non-bank financial group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses.
For more information, visit: www.hanwha.com
Green Hedge Group
Green Hedge Group(www.green-hedge.com) develops, finances and operates renewable energy projects in the UK. It joins together Green Hedge Solar Operations, an experienced operations and maintenance provider, with Green Hedge Renewables (formerly AEE Renewables). With over 125 megawatts of capacity commissioned or under construction across 18 sites, Green Hedge Renewables is one of the UK’s leading developers of solar farms.
Green Hedge Group was established in 2010, and has offices in London and Bath.
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