Hanwha SolarOne has entered into a long-term strategic partnership with Guangxi – Asean Economic Development Zone (GAEDZ) Administrative Committee for developing distributed generation (DG) PV projects.
As part of the deal, Hanwha SolarOne intends will develop, own and operate 50 MW of distributed generation projects in GAEDZ.
GAEDZ will assist in availing rooftop space, facilitating project approval and grid connection and earning tax preferences and project financing.
The Chinese module supplier is pleased to take forward this partnership with GAEDZ as they are planning 2015 as a defining year for the company in terms of downstream business.
It is to be noted that, the shipment of the company to China has grown over by 300 percent in the second half of 2014 compared with the first half.
In another development, Hanwha SolarOne has signed a deal with a photovoltaic developer for the supply of 80 megawatts of solar PV modules to a project in the Antofagasta Region, Chile. The solar installations will be powered by Hanwha SolarOne’s new polycrystalline module generation, the HSL S Series.
The delivery of 258,000 HSL 72 S Poly modules will begin late in the first quarter 2015.
Recently, Hanwha SolarOne has secured a three-year US$87 million term loan facility from the Export-Import Bank of Korea (KEXIM) to be used as a working capital including redemption of the company’s convertible senior notes with a January 15, 2015 put option.