Hanwha to Build Solar Energy Plant in Portugal
Hanwha to Build 17.6 MW Solar Energy Plant in Portugal
- Hanwha SolarEnergy will carry out the duties of EPC and O&M
- Enough capacity to provide electricity for about 8,800 households in Portugal
Hanwha Group makes inroads in the European solar energy market by constructing a large-scale solar energy plant in Portugal.
Hanwha SolarEnergy, (Hyun-Joong Kim, CEO) formed a consortium with Martifer Solar to sign a large-scale solar energy plant construction deal which would cover as much as 17.6 MW in the city of Lisbon.
As a result of the agreement, Hanwha SolarEnergy assumes the duties of EPC (Engineering, Procurement, and Construction) and O&M (Operation & Maintenance) that are necessary for the construction of the plant in May.
The plant, which will follow a series of phased-construction schedules before going into commercial production beginning at the end of 2012, will provide about 33 GWh of electricity on a yearly basis. This is enough capacity to provide electricity for about 8,800 households.
Portugal is one of the European countries that are heavily dependent on new and renewable energy sources such as solar, wind and water power. Portugal’s grant programs and introduction plan are well organized. Unlike other European countries struggling because of rash licensing practices, Portugal maintains a set of well-calculated management plans on the total output of new and renewable energy through the control of subsidies.
Although there have been extraneous pressures to reduce the Portuguese government’s investment on new and renewable energy due to the economic crisis, Portugal’s government has actively attracted investments from global institutions by excluding the government’s investment on solar energy projects from reduction plans, as a result of discussions with the European Bank, EU, and IMF.
Hanwha SolarEnergy plans to take this opportunity to launch a full-fledged entrance into the European solar energy market.
Hanwha SolarEnergy provides Total Solution for all fields related to solar energy, including the development of the solar energy business, construction, management and fund-raising. Last year in November, the company constructed the largest rooftop solar energy plant which produced a total of 2.24 MW in Changwon.
Meanwhile, Hanwha group operates a 6 MW-scale solar energy plant in Rovigo, located the northern part of Italy through Hanwha Europe GmbH. The company made direct investment and constructed the facility.
Martifer Solar is a global company specializing in solar energy. The company develops solar energy business projects around the world, including European countries like Portugal, Spain, Italy, the Czech Republic and Belgium. It also has projects in North American counties including the US and Canada, South American counties like Chile and Brazil, as well as India and South Africa.
Hanwha SolarOne Co., Ltd. (NASDAQ: HSOL) is one of the top 10 photovoltaic module manufacturers in the world, providing cost-competitive, high quality PV modules. It is a flagship company of Hanwha Group, one of the largest business enterprises in South Korea. Hanwha SolarOne serves the utility, commercial, government and residential markets through a growing network of third-party distributors, OEM manufacturers and system integrators. The company maintains a strong presence worldwide, with a global business network spanning Europe, North America, Asia, South America, Africa and the Middle East. As a responsible company committed to sustainability, Hanwha SolarOne is an active member of the PV Cycle take-back and recycling program.
For more information, visit: www.qcells.com/us/
Founded in 1952, Hanwha has grown quickly by anticipating and responding to changing business environments with a balanced business portfolio that includes energy & materials, aerospace, finance and retail & services. Our expertise and synergy in key areas have catapulted us into the seventh-largest business in South Korea and a Fortune Global 500 company. Hanwha continues to grow rapidly as we strive to pursue global leadership in all of our businesses. We are building a robust foundation for sustainable development and a brighter future for everyone.
For more information, visit: www.hanwha.com
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