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.
- Additional 204 MWp production line to be integrated into Malaysian plant
- Increased production capacity to be fully-ramped in autumn 2014
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.
“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.”