Hanwha Q CELLS Completes Successful First Year

Hanwha Q CELLS celebrates a successful first year of operations. Since the official start of the company on Oct. 16, 2012, Hanwha Q CELLS has quickly become a reliable partner for high quality photovoltaic products and solutions, engineered in Germany.

“We are very happy with the company´s development within this first year,” said Charles Kim, CEO of Hanwha Q CELLS. “We have worked very hard and have improved our operations and performance in many areas. Financially, we are aiming for positive full-year-figures in 2014.”

During Hanwha Q CELLS’ first year, the international team made enormous efforts to further improve in all areas and offer highly attractive products to the international PV customers. Reducing production costs while increasing product performance and quality was one of the company’s biggest challenges. The introduction of the new G3 product series, including Q.PRO and Q.PEAK solar modules as well as the Q.FLAT system for flat rooftops, in May 2013 demonstrated Hanwha Q CELLS’ ability to exceed expectations. With a 35mm frame and a number of innovations – such as Q.ANTUM cell technology – the product series combines yield and performance improvements with advantages in cost and logistics, making for very attractive levelized cost of electricity (LCOE).

At the same time, Hanwha Q CELLS ramped up existing production capacities in its international manufacturing sites and even increased the capacity in its Malaysian plant from 800 to more than 900 MW – making for a total production capacity of 1.1 GW.

“We have made important steps in fully utilizing our capacities in all plants while increasing the efficiency of our production sites, thus reducing production costs significantly,” said Kim.

In terms of sales, Hanwha Q CELLS has combined Q CELLS’ international contacts and partnerships with the global sales network of Hanwha Group – one of Korea´s Top Ten business enterprises. This resulted in maintaining a strong business in European home markets while successfully entering the promising Japan market. Hanwha Q CELLS is also further enhancing its profile in North American and emerging PV markets. In April, the company completed its international sales setup with Hanwha Q CELLS offices in Germany, Malaysia, the USA, South Korea, Japan and Australia.

Hanwha Q CELLS’ customers also benefit from the company´s international R&D and manufacturing footprint. At the company´s headquarters in Thalheim, Germany, Hanwha Q CELLS develops its innovative products all the way from the lab to maturity for mass production. The Q CELLS products are then manufactured at the company´s production sites in Thalheim and Selangor, Malaysia, as well as with certified contractors in Europe and Asia.

After Hanwha Q CELLS’ successful first year, the company is confident in its future.

“We achieved a lot in this first year of operations, and I would like to express my sincere appreciation and thanks to our customers and partners as well as to our employees. Together, we have already taken very important steps in the right direction,” said Kim. “This is only the beginning: Hanwha Q CELLS is committed to improvement and to becoming the leading PV solutions company, providing highest quality and lowest LCOE.”