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Q CELLS acquires project rights for 16.8 MW solar capacity in Poland

Q CELLS acquires project rights for 16.8 MW solar capacity in Poland

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The EPC division of Q CELLS in June acquired 20 individual ground-mounted solar plants from Poland’s third round of renewable energy auctions, held in November 2018.

[Berlin, Germany, July 25, 2019] Q CELLS (or the “Company”), one of the largest solar cell and module manufacturers in the world, has acquired project rights of 20 ground-mounted solar plants in Poland with a cumulative capacity of 16.8 MW.

In June, Q CELLS signed the contracts to construct, connect, and operate the 20 solar projects that were awarded from the third round of Polish renewable energy auction, held in November 2018 by the nation’s energy regulator, Energy Regulatory Office (URE).

The regulations for this third round of auction stipulate that each renewable energy project must not exceed 1 MW in size and must have begun selling the electricity produced onsite within 18 months from the publication date confirming that the projects were awarded at auction.

Q CELLS is planning to finalize all construction works by the end of 2019, ensuring ample time to put in place all appropriate electricity licenses with the relevant distribution network operators (DNOs) in order to be eligible for the monthly feed in tariff (FIT).

Projects boost Q CELLS’ Polish PV presence

The 20 new solar projects that have been acquired by Q CELLS are spread throughout Poland, with the bulk of new installations located in the north and northeast of the nation’s capital, Warsaw. Once completed, this additional 16.8 MW solar capacity will take the Company’s developed PV presence in Poland to beyond 70 MW.

Currently, Q CELLS’ EPC division owns a cumulative capacity of 56 MW of solar plants in Poland. Furthermore, Q CELLS ended 2018 as one of the market leaders in Poland with more than 55 MW in shipments, and the Company is determined to continue strengthening its position in this growing market

Mauro Di Fiore, Vice President of Global EPC/Utility for Q CELLS, said: “We are pleased to have been able to acquire these additional projects in Poland. Such deals demonstrate how well our product range is received in the Polish market, and how competitive we are as an EPC player.

“Q CELLS has already gained a great deal of key insights from the projects that we have already implemented in Poland – insights that will now stand us in good stead as we develop this next round of new projects. Q CELLS is now one of the most prominent players in Poland’s solar industry.”

Beyond Poland, Q CELLS’ EPC division is also increasingly active in a number of maturing and dynamic solar markets across Europe, including Spain and Ireland.

About Q CELLS

Q CELLS 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 the U.S., Malaysia, China, and South Korea. Q CELLS offers the full spectrum of photovoltaic products, applications and solutions, from cells and 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, Q CELLS provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. For more information, visit: http://www.q-cells.com.

Safe-Harbor Statement

This press release contains forward-looking statements. 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 Q CELLS’ 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. Except as required by law, Q CELLS 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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