Hanwha Q CELLS USA Premieres as Leading Downstream Solar Company
Turnkey Solar solution provider to build 42.5 MW project in Ontario, Canada for Fiera Axium Infrastructure
[09 July, 2013] Hanwha Solar Energy America and Q.CELLS North America have merged, launching Hanwha Q CELLS USA. The new company combines Q.CELLS’ track record of downstream excellence with Hanwha’s financial strength to form a leading provider of turnkey solar systems. The new company closed last week on contracts to build the 42.5 megawatts (MW) Ontario Solar Photovoltaic Farm (OSPVF) project in Ontario, Canada for Fiera Axium Infrastructure. Hanwha Q CELLS USA has built more than 110 MW of projects in North America to date.
“Hanwha Q CELLS is the leading provider of turnkey solar systems in North America,” said Mark Bronez, President, Hanwha Q CELLS USA. “Merging the talent and resources of the two solar companies creates a downstream infrastructure with full vertical integration of project development, Hanwha financing, Q CELLS modules and technologies, EPC, and O&M services. This enables us to provide solar energy at the lowest levelized cost of electricity to utility, corporate, and public agency customers.”
Fiera Axium Infrastructure Canada II LP, an infrastructure fund, will own the OSPVF projects, located across four sites in Ontario, Canada. OSPVF is a shining example of the synergies of the Hanwha network. Hanwha Canada Development, a wholly owned subsidiary of Hanwha Engineering and Construction Company, is the general engineering, procurement and construction (EPC) contractor, with work performed by Hanwha Q CELLS USA. Hanwha Solar Canada is providing high quality, Ontario made modules using Hanwha Q CELLS solar photovoltaic (PV) cells. Construction is set to begin in July of this year and is expected to be completed in early 2014. Once completed, the solar system will supply up to 50 gigawatt hours (GWh) of electricity per year, enough energy to power 5,000 average Ontario households, reducing the province’s carbon footprint by 25,000 tons.
“Hanwha Q CELLS USA is an ideal project partner, combining the solar legacy of Q.CELLS with the international strength of Hanwha,” said Juan Caceres, Senior Vice President, Fiera Axium Infrastructure. “Hanwha Q CELLS USA’s turnkey solution enables maximum results with regard to energy yield and performance, reduces our risk, and protects our investment.”
The OSPVF project will utilize the innovative Q.MEGA standard block for large solar power plants. This system was used in a project that has been selected as a 2013 Intersolar Award Finalist. The Q.MEGA 1.4 MWp DC PV system block is set up in a standardized, cascading layout, optimizing and accelerating project construction, and significantly reducing the installation time. A completed Q.MEGA block can feed electricity into the grid while other blocks are still being installed. This flexibility and high degree of standardization minimizes cost. Q.MEGA features Triple Yield Security, which includes anti-PID technology, hot spot protection and solar cell quality tracking.
Hanwha Q CELLS USA oversees the entire project management for Q.MEGA systems from the planning stage through the final grid connection. Hanwha Q CELLS USA will offer a full array of services including financing, development, design, construction, modeling, system solutions and operations & maintenance (O&M).
For more information:
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
Fiera Axium Infrastructure Inc.
Fiera Axium Infrastructure Inc. is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. Focus is placed on assets that are supported by robust market demand, under long-term contract with creditworthy counterparties, within concession-based structures or under a regulated framework. The firm combines the capabilities of a group of professionals with extensive infrastructure development and management backgrounds, with the fund management expertise of one of Canada’s leading independent fund managers in Fiera Capital Corporation (TSX: FSZ). Its management team comprises infrastructure investment specialists with decades of combined experience acquiring, developing, financing, operating and managing infrastructure assets. Fiera Axium Infrastructure is jointly controlled by Fiera Capital and Axium Infrastructure Management.
For more information, visit: www.fieraaxium.com
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