- A subsidiary of Hanwha Q CELLS Co., Ltd. agreed to supply more than 1.5 GW to NextEra Energy Resources, beginning in 4Q 2015 to power its continued solar investment across the U.S.
- Modules will use Hanwha Q CELLS' proprietary, high-efficiency Q.ANTUM cell architecture, the world's first fully commercialized multi c-Si PERC cell in mass production.
- Cells and modules will be manufactured from Hanwha Q CELLS' fully automated and highly-efficient production facilities in Malaysia and Korea.
Hanwha Q CELLS Co. Ltd ("Hanwha Q CELLS") (NASDAQ: HQCL) today announced the signing of a major solar module supply agreement with NextEra Energy Resources, LLC, a subsidiary of one of the world's largest clean energy companies, U.S.-based NextEra Energy, Inc. (NYSE: NEE).
A subsidiary of Hanwha Q CELLS will provide more than 1.5 GW of solar modules to NextEra Energy Resources and its affiliates between 4Q 2015 and 4Q 2016 to help power its continued solar expansion in the U.S.
Seong-woo Nam, Chief Executive Officer of Hanwha Q CELLS, said, "We are proud to become a strategic partner with NextEra Energy Resources, a worldwide renewable-energy leader. This agreement is a testament to the quality, value and competiveness of Hanwha Q CELLS' advanced solar cell and module technology," Mr. Nam also added, "This supply deal will enable Hanwha Q CELLS to become the market share leader among global manufacturers in two of the three world's largest solar markets, the U.S. and Japan."
"As the world's largest generator of renewable energy from the wind and sun, we continue to invest in large-scale solar projects," said Armando Pimentel, president and chief executive officer of NextEra Energy Resources. "Hanwha Q CELLS shares our vision of an affordable clean energy future. We look forward to Hanwha Q CELLS delivering solar cells and modules that will provide reliability, efficiency and durability."
Hanwha Q CELLS will supply these shipment to NextEra Energy Resourses from its fully automated and highly-efficient cell and module production facilities in Malaysia and Korea. These solar modules will use the company's newest, proprietary Q.ANTUM cell architecture, which supercharges ordinary crystalline cells enabling them to absorb more sunlight and produce more power than the industry's standard solutions. Hanwha Q CELLS is the first company that successfully commercialized multi c-Si PERC cell in mass production.
This large-scale supply agreement follows Hanwha Q CELLS' recent, successful combination with Hanwha SolarOne Co., Ltd. to form a global leader in solar power. The combined entity has the world's largest solar cell manufacturing capacity, and it is one of the largest solar module manufacturers. Its broad international footprint covers the largest and fastest-growing solar markets worldwide.
"This 1.5 GW supply agreement is early evidence of the effectiveness of the transformational merger between Hanwha SolarOne and Hanwha Q CELLS," added Mr. Nam of Hanwha Q CELLS. "The financial stability, advanced technology and manufacturing leadership of the new company made this historic supply deal possible. This transaction positions us for longer term growth and contributes to enhanced shareholder value."
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