Hanwha SolarOne has signed its second supply agreement with Baotou Shansheng New Energy for delivery of 50 MW of Hanwha SolarOne’s PV modules.
Deliveries will begin in October and are scheduled for completion by the end of November.
The modules will be used in ground-mounted projects in Hohhot and Baotou, Inner Mongolia.
The Company had previously announced a similar 50 MW module supply agreement with Baotou New Energy.
The agreement will see a four-fold increase in volumes shipped to China during the first half of 2014.
Further gain in China business is expected as the Chinese government has approved its 13 GW target for solar installations in 2014 with some steps outlined to support distributed generation, said, Jay, SEO, CFO, Hanwha SolarOne, head, Hanwha SolarOne’s China business.
These measures will have an impact on demand in China market by the fourth quarter with a lasting effect on demand for years to come, added Jay.