Hanwha Solutions invests $320 million in solar cell manufacturing in U.S. and South Korea
2022-05-16 13:46:44 [Print]
Hanwha Solutions, a South Korean company that owns clean energy solutions provider Qcells, has received a $320 million investment plan for solar manufacturing expansion in the United States and South Korea with the aim of providing secure, cleaner energy amid mounting calls for energy security and net-zero emissions.
The company said it will seek to spend $170 million building a 1.4 GW solar module production facility in the U.S. Qcells already operates a 1.7 GW module factory in Dalton, Georgia. With the new factory expected to come online as early as the first half of 2023, Qcells' total production capacity in the U.S. will exceed 3 GW, equivalent to one-third of current U.S. solar module production capacity.
The company also announced its plan to expand cell production capacity in South Korea by investing $150 million. When the factory expansion is complete next year, overall cell capacity in South Korea will reach 5.4 GW. It is the first investment in Korean solar cell manufacturing in five years.
The company said it will seek to spend $170 million building a 1.4 GW solar module production facility in the U.S. Qcells already operates a 1.7 GW module factory in Dalton, Georgia. With the new factory expected to come online as early as the first half of 2023, Qcells' total production capacity in the U.S. will exceed 3 GW, equivalent to one-third of current U.S. solar module production capacity.
The company also announced its plan to expand cell production capacity in South Korea by investing $150 million. When the factory expansion is complete next year, overall cell capacity in South Korea will reach 5.4 GW. It is the first investment in Korean solar cell manufacturing in five years.
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