Hanwha Group, a top 10 Korean business group and Fortune Global
500 company with businesses in manufacturing, construction,
finance, retail and resorts, today launched Hanwha Q.CELLS.
The launch marks the completion of the acquisition of German
solar company Q.CELLS, one of the worlds' largest solar cell
manufacturers and a leading photovoltaics company. Mr. Charles Kim
will lead Hanwha Q.CELLS as CEO, joining the company from Hanwha
SolarOne. Mr. Min Su Kim will replace Mr. Charles Kim as the
president of Hanwha SolarOne and joins the company from Hanwha
The launch of Hanwha Q.CELLS establishes Hanwha as the third
largest solar manufacturer in the world. Hanwha's 2.3 GW of
manufacturing capacity is distributed across Germany, Malaysia and
China, a competitive advantage to supply any region in the world,
free of trade sanctions.
"The synergies between Q.CELLS and Hanwha offer a rare
opportunity to quickly build a world leading solar company," said
Charles Kim, CEO of Hanwha Q.CELLS. "The Q.CELLS track record of
quality, innovation and excellence align with Hanwha Group's
financial resources, manufacturing expertise and global customer
network to form one of the strongest solar companies in the world,
ready to lead the industry into a new era."
The launch of Hanwha Q.CELLS follows strategic investments by
the Hanwha Group to broaden solar offerings to the system and
accelerate technology developments ranging from advanced cell
technology to system optimization for lowering LCOE (Levelized Cost
of Electricity), EPC (Engineering, Procurement and Construction),
and project development capabilities. These strategic investments
include innovative companies like Crystal Solar, 1366 Technologies,
tenKsolar, Silent Power and OneRoof Energy. Hanwha Group also
established Hanwha SolarEnergy in 2011 to deliver integrated solar
power plant solutions encompassing development, construction,
operation and project financing, in addition to the recently opened
€10 million advanced R&D center in Silicon Valley, Calif., U.S.
in April 2012. With the launch of Hanwha Q.CELLS, Hanwha now has
four R&D centers around the world.
"With a 60-year track record of industrial leadership, Hanwha
Group is committed to becoming a global leader in addressing the
energy challenges of a dynamic global economy," said Ki-Joon Hong,
CEO of Hanwha SolarOne and vice chairman of Hanwha Chemical. "Our
commitment to solar extends beyond building a successful business.
We are dedicated to making solar the most reliable source of energy
Hanwha Group acquired the following assets from Q.CELLS:
- Headquarters, R&D center and administrative
operations in Germany.
- 200 MW cell and 120 MW module manufacturing facilities in
- 800 MW cell manufacturing facility in Malaysia.
- Entities in the U.S., Australia and Japan.
- 34 patents.
- 1,225 employees.