-Hanwha Q CELLS continues on its growth path
[Thalheim, Germany / Cyberjaya, Malaysia, 29 October 2014] – German headquartered Hanwha Q CELLS today announced that it will build a large-scale module factory at its existing site in Cyberjaya, Malaysia. The new facility will include four production lines and automated equipment for the company’s high performing solar modules totalling a capacity of 800 megawatt (MW). After currently increasing its capacities in cell production, the investment in a new module production again highlights Hanwha Q CELLS’ consistent growth path and positive business outlook. Given the growing cell capacity and production volume, the largest European PV provider according to shipments now adapts its module production capacities accordingly. The amount of investment has not been disclosed.
In August, Hanwha Q CELLS announced to increase its total production capacity to more than 1.5 GW by the end of the year. Furthermore, Hanwha Q CELLS has been strongly expanding its business and expects 2014 shipments between 1 and 1.2 GW as well as positive full-year-figures. Detailed financial figures about revenue or profit have not been disclosed.
The next step in becoming one of the leading players in global PV industry Charles Kim, CEO of Hanwha Q CELLS, said: “By building module facilities of 800 MW at our site in Malaysia, Hanwha Q CELLS takes the next step in becoming one of the globally leading companies in the photovoltaics industry. The new factory will strengthen our position to satisfy the heightened demand of our customers. We offer top-quality modules, applications and complete power plants “Engineered in Germany” as well as long-term partnership and financial stability.”
The construction of the module production facility at the Cyberjaya site will start in early 2015. Hanwha Q CELLS will start to move in the production equipment in parallel. The new production lines are planned to be ready for a first test production in Q3 2015 and expected to reach full utilization by early 2016.
