Tiendas Soriana, Hanwha Q CELLS, and ILIOSS® Partner to Install 31 MW of Solar Power in Mexico
- Q CELLS systems to be installed at 120 retail stores across the country
- Hanwha Q CELLS to provide financing for all 31 MW
- ILIOSS to design and install solar systems
[Monterrey, Nuevo Leon, Mexico, 24 March, 2014] Tiendas Soriana S.A. de C.V., Mexico's second largest retail company, and Hanwha Q CELLS, one of the world's leading full-service solar power companies, today announced a 20-year Power Purchase Agreement (PPA) for 31 megawatts (MW) of photovoltaic (PV) solar power at 120 retail locations across Mexico that will create significant long-term energy savings for Soriana. The agreement lays the foundation for a long-term partnership, which could lead to new installations at additional Soriana stores in the future.
Hanwha Q CELLS will partner with Mexican developer and construction company ILIOSS to install rooftop and carport systems in Soriana's stores in Mexico City and the states of Mexico, Jalisco, Querétaro and twelve others. Soriana will reduce a significant portion of their energy demand by using onsite solar power while fixing its long-term energy cost. Hanwha Q CELLS will finance all 31 MW.
Hanwha Q CELLS and ILIOSS have already begun construction on the first seven solar systems in Baja California Sur, which will feature more than 12,000 high-efficiency, German engineered Q CELLS Q.PRO-G3 250 W panels to provide approximately 3.05 megawatts of combined generation capacity. Construction on all 120 sites is expected to be completed by early 2015.
"Soriana is an ideal partner for a solar project of this scale in Mexico," said Alejo Lopez, Hanwha Q CELLS Country Manager for Mexico. "Solar power makes strong economic sense for many large retail and industrial energy users in Mexico, even without any government subsidies."
"With great solar resources and a positive investment outlook, Mexico is a prime growth market for Hanwha Q CELLS," said Moon Hwan Cha, Hanwha Q CELLS USA President. "The robust financial standing of the Hanwha Group allows Hanwha Q CELLS to establish long-term partnerships with customers in key markets like Mexico and other emerging markets in Latin America."
"With this association Hanwha Q CELLS, Soriana and ILIOSS join forces to provide the most advanced technology to obtain clean energy at preferential costs. This project allows Soriana to meet both its sustainability and cost saving goals" said Aurelio Adán, CFO of Soriana.
"It is a privilege for ILIOSS to partner with such great companies as Soriana and Hanwha Q CELLS on this ambitious project, the biggest rooftop project in Mexico and Latin America. Our experience and professional capacity will provide certainty on the quality of the design and construction of the solar systems." said David Arelle, ILIOSS CEO.
For more information:
- Hanwha Q CELLS
- Alejo Lopez
- Tel: (949) 748-5996 x240
- Email: firstname.lastname@example.org
Hanwha Q CELLS
Hanwha Q CELLS Co., Ltd. (NASDAQ:HQCL) is a global leading photovoltaic manufacturer of high-performance, high-quality solar cells and modules. Headquartered in Seoul, South Korea, it has Technology and Innovation HQ in Thalheim, Germany and manufacturing facilities in Malaysia and China. Hanwha Q CELLS offers solar modules, photovoltaic systems solution and large-scale solar power plants. Through its growing global business network spanning North America, Asia, Europe, South America, and the Middle East, the company provides excellent services and long-term partnership to its customers in the utility, commercial, government 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 258 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
Tiendas Soriana S.A. de C.V. is a fully owned subsidiary of Organización Soriana (BMV: SORIANAB). Soriana is a Mexican public company and is the second largest retailer in Mexico with more than 640 stores. Soriana is a grocery and department store retail chain headquartered in Monterrey, Nuevo León, Mexico. The company is 100% capitalized in Mexico and is publicly traded on the Mexican stock exchange (Bolsa Mexicana de Valores), since 1987 under the symbol: "Soriana".
For more information, visit: www.soriana.com.mx
ILIOSS provides solutions for energy sale, financing, engineering, procurement, construction and operation of solar energy systems. ILIOSS is the leading Mexican solar developer and EPC company with the highest rooftop PV power installed. Among its clients there are recognized commercial and industrial companies and real estate developers.
For more information, visit: www.ilioss.com
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