Hanwha Q Cells increases Production Capacity to 1.3 GWP in Total

ADDITIONAL 204 MWP PRODUCTION LINE TO BE INTEGRATED INTO MALAYSIAN PLANT
INCREASED PRODUCTION CAPACITY TO BE FULLY RAMPED-UP IN AUTUMN 2014
BUSINESS EXPANSION IN 2014: FOCUS ON ROOFTOP MARKETS IN EUROPE AND JAPAN AND ON POWER PLANT SOLUTIONS IN ASIA, NORTH AMERICA AND EUROPE

Hanwha Q CELLS will expand both, its business and its capacity, in 2014: the leading PV specialist has started integrating an additional 204 MWp production line for the company´s high efficiency solar cells as part of its existing plant in Malaysia. This step will raise the production capacity of the manufacturing facility in Cyberjaya, close to Kuala Lumpur, to 1.1 GWp and the total production capacity to 1.3 GWp. After increasing the company´s capital by USD 188.5 Million in November 2013, the capacity increase again underlines Hanwha Q CELLS´ positive business outlook for 2014 and the company´s determination to becoming a leading player in solar industry globally.

Charles Kim, CEO of Hanwha Q CELLS, said: “More and more customers in the international PV markets demand the unique combination that we have to offer: best quality products ‘Engineered in Germany’, complete solutions and services for PV systems and power plants and all that based on the reliable partnership with a financially stable company. With regards to this heightened demand we increase our capacity in order to fulfil our customers’ requirements.”

New production line for high efficiency cells in Malaysian plant
The construction at the Cyberjaya plant has started in December 2013. The additional production line is scheduled to be ready for ramp up by end of June 2014 and to be fully productive by early autumn 2014, resulting in approximately 70 new jobs at the Malaysian site. The production focus will be on the high efficiency solar cells for Q CELLS´ powerful Q.PRO G3 polycrystalline PV modules.

“With the expansion, the Hanwha Q CELLS Malaysia facility will finally exceed 1GW of cell production capacity, thereby ensuring a continuous supply of multi-crystalline high quality solar cells to our certified module manufacturing partners,” said Seong Joo Ryu, Managing Director of Hanwha Q CELLS Malaysia. “In addition the capacity increase will enable our company to leverage even higher economies of scale, hence further improving our financial performance.”

Outlook 2014: Business Expansion in Rooftop Segments and Power Plant Solution Business
After a successful first full year for Hanwha Q CELLS in 2013, the company is looking into the future with confidence. In 2014 Hanwha Q CELLS will expand its business in the residential as well as the commercial and industrial rooftop segments – especially in its European home markets and in Japan. Moreover, the company will use its strengthened balance sheet to gain further market share in the power plant solution business in Europe, Asia and North America.

“Based on our experience of around 600 MW of installed power plant capacity, we offer complete and tailor-made power plant solutions and services”, said CEO Charles Kim. “Our portfolio in this segment reaches from project development, to EPC, to operations & maintenance up to financing solutions.” Both, the capacity increase as well as the business expansion plans underline the company´s positive outlook for 2014. CEO Charles Kim: “We are very confident to reach positive full-year figures in 2014.”

Hanwha Q CELLS is part of the South Korean Hanwha Group and one of the world’s leading photovoltaics companies and offers a wide range of photovoltaic solutions, from solar cells and modules to solar power plants. Hanwha Q CELLS products are developed and manufactured at its headquarters in Thalheim (Germany) and marketed via its global sales network. It also has a second production plant in Malaysia. The close links between R&D and production enable Hanwha Q CELLS to rapidly translate innovation into mass production – and underpin its ambition to be at the forefront of photovoltaic technology. For more information, please visit: http://www.qcells.com.

Hanwha Group, founded in 1952, is one of the largest business enterprises in South Korea with 52 domestic affiliates and 90 global networks in three major sectors: manufacturing and construction, finance, and services and leisure. With a 60-year track record of industrial leadership, Hanwha’s manufacturing and construction businesses encompass a broad range of fields from basic chemicals and advanced materials to property development and total solar energy solutions. The finance network, covering banking, insurance, asset management and securities, is the second largest non-bank finance 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.

Source: Hanwha Q Cells

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