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Hanwha Q CELLS secures 100 MW module supply deal for CGN New Energy

Hanwha Q CELLS secures 100 MW module supply deal for CGN New Energy

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− This deal represents another important cooperation between Hanwha Q CELLS and CGN New Energy,following a 66 MW module supply deal for a Top Runner Project in July
− Total module volume supplied by Hanwha Q CELLS to CGN Power Group has now reached nearly 400 MW
− General Manager of China Business Division, Hanwha Q CELLS, said: “This deal represents the customer’s high recognition of our Q.ANTUM mono solar module Q.PEAK-G5 series. It will inspire the Company to continuously improve the quality of our product and service.”

Shanghai, China: Hanwha Q CELLS (Qidong) Co., Ltd. (“Hanwha Q CELLS” or the “Company”), the subsidiary of Hanwha Q CELLS Co., Ltd. (NASDAQ: HQCL), one of the largest solar cell and module manufacturers in the world, has recently signed a 100 MW module supply agreement with an EPC contractor, Central Southern China Electric Power Design Institute Co., Ltd. of China Power Engineering Consulting Group Corporation, with respect to a solar plant to be constructed for CGN New Energy Holdings Co., Ltd. (“CGN New Energy“) in Hubei Province, China.

This deal marks another important cooperation between the two enterprises following Hanwha Q CELLS securing a 66 MW module supply tender for CGN New Energy’s Top Runner Project in Delingha, China, in July 2018.

The solar plant will be built in Dafan Town, Tongshan County, Hubei Province – a region that has abundant energy sourced mainly from wind power, hydropower, nuclear power and stationary storage. Hubei Province is known for excellent solar irradiation, making it an ideal location for the construction of solar plants. The total capacity of this solar plant is expected to be 150 MW, and Hanwha Q CELLS will supply CGN New Energy with 100 MW of capacity comprised of the well-received Q.ANTUM mono solar module Q.PEAK-G5.

Delivery begins

On November 2, 2018, the first batch of 30 MW solar modules arrived at the project site, and installation began. The expected date for grid connection for the entire completed project is the end of December 2018. After grid connection is complete, the total power generation of the solar plant could reach around 145.76 million kWh per year. With the clean renewable energy of the solar plant, Tongshan County will also further realize the economic benefits of solar power, while such clean sources of energy help to keep the mountains green and the rivers free from pollution.

The General Manager of the China Business Division, Hanwha Q CELLS, said: “We are very glad to once again gain the trust of China General Nuclear Power Group (“CGN Power Group”). Based on our long-term and friendly cooperation, the total volume of modules we have supplied reaches nearly 400 MW collectively to CGN Power Group. This represents the customer’s high recognition of our Q-Series products, especially the mono-crystalline PERC solar module, the Q.PEAK-G5.

“This will inspire us to continuously improve the quality of our products and services. We look forward to further strengthening the strategic cooperation with CGN Power Group, to promote new projects with mutual benefit that are a win-win for both companies.”

About Hanwha Q CELLS
Hanwha Q CELLS Co., Ltd. (NASDAQ:HQCL) is one of the world´s largest and most recognized photovoltaic manufacturers for its high-performance, high-quality solar cells and modules. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with its diverse international manufacturing facilities in Malaysia and China. Hanwha Q CELLS Co., Ltd. offers the full spectrum of photovoltaic products, applications and solutions, from modules to kits to systems to large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, the company provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. Hanwha Q CELLS Co., Ltd. is a flagship company of Hanwha Group, a FORTUNE Global 500 firm and a Top 10 business enterprise in South Korea. For more information, visit: http://www.hanwha-qcells.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. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Hanwha Q CELLS Co., Ltd.’ operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Further information regarding these and other risks is included in Hanwha Q CELLS Co., Ltd. filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, Hanwha Q CELLS Co., Ltd. does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: q-cells
Anand Gupta Editor - EQ Int'l Media Network

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