Hanwha SolarOne Signs Memorandum of Understanding With Yantai Municipal Bureau of Commerce to Develop 100 MW of Distributed G...
05 Novembre 2014 - 1:41PM
Business Wire
Hanwha SolarOne Co., Ltd. (the “Company”, or “Hanwha SolarOne”),
a top-10 global photovoltaic manufacturer of high-quality,
cost-competitive solar modules, today announced it has signed a
memorandum of understanding (“MOU”) with Yantai Municipal Bureau of
Commerce (“YMBC”) to establish a long-term strategic partnership
with the aim to develop distributed generation (DG) PV projects.
Yantai is a major port city located in Shandong Province, China.
YMBC will help secure rooftop space, facilitate project approval
and grid connection, as well as aid with obtaining tax preferences
and project financing. As part of the strategic partnership Hanwha
SolarOne intends to develop, own and operate 100 MW of distributed
generation projects in Yantai. The agreement is in place for five
years with either party able to cancel with 90 day’s
notification.
Mr. Jay Seo, Chief Financial Officer of Hanwha SolarOne and head
of Hanwha SolarOne's China business commented, “Hanwha SolarOne
continues to make progress in establishing a downstream business in
China. Through this partnership we have already identified rooftops
that will accommodate approximately 8 MW of DG projects and are now
in the process of securing permits. We intend to use our own
modules and perform the necessary EPC work for all projects under
this MOU.” Mr. Seo concluded, “The latest government initiatives
are already having a meaningful impact on the acceleration of
distributed generation projects in China and we feel we are ideally
positioned to gain further traction in the market going
forward.”
About Hanwha SolarOne
Hanwha SolarOne Co., Ltd. (NASDAQ: HSOL) is one of the top 10
photovoltaic module manufacturers in the world, providing
cost-competitive, high quality PV modules. It is a flagship company
of Hanwha Group, one of the largest business enterprises in South
Korea. Hanwha SolarOne serves the utility, commercial, government
and residential markets through a growing network of third-party
distributors, OEM manufacturers and system integrators. The company
maintains a strong presence worldwide, with a global business
network spanning Europe, North America, Asia, South America, Africa
and the Middle East. As a responsible company committed to
sustainability, Hanwha SolarOne is an active member of the PV Cycle
take-back and recycling program. For more information, please
visit: www.hanwha-solarone.com.
Safe-Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. Forward-looking statements involve inherent risks and
uncertainties and actual results may differ materially from such
estimates depending on future events and other changes in business
climate and market conditions. Hanwha SolarOne disclaims any
obligation to update or correct any forward-looking statements.
Investor Contact:Hanwha SolarOne Co., Ltd.Paul CombsV.P. of
Investor Relations6th Floor, Yongda International Tower2277
Longyang Road, Shanghai, PRC 201204P. R. ChinaTel: 86-21-3852 1533
/ Mobile: 86 138 1612 2768E-mail:
paul.combs@hanwha-solarone.com
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