Hanwha SolarOne to develop 100MW of PV projects in China

Hanwha SolarOne has signed a memorandum of understanding (MoU) with the Wuxi New District Administrative Committee to develop 100MW of downstream PV projects in eastern China.

The company plans to own and operate the projects developed in the district under the long-term strategic partnership.

Under the terms of the agreement, the Wuxi Administrative Committee will provide rooftop space for the projects andfacilitate local government approvals as well as grid connection.

It will also facilitate efforts to secure preferential tax treatment and project financing.

Hanwha SolarOne chief financial officer and downstream business head Jay SEO said the firm has taken one more step towards developing its downstream business in China.

"The Wuxi Administrative Committee will provide us access to a number of high quality rooftops, and be an instrumental partner in permit development, project development and grid connection," SEO added.

"We feel confident that this latest business development, coupled with a number of previous announcements, serves as a solid foundation to establish a growing PV project portfolio in 2014."

Hanwha SolarOne, which serves the utility, commercial, government and residential markets, has business network in Europe, North America, Asia, South America, Africa and the Middle East.