Hanwha Q CELLS Signs MOU with Korea Western Power for Joint Development of Solar Power Project in Spain

[Asia Economy Reporter Hwang Yoon-joo] Hanwha Q CELLS and Korea Western Power signed a memorandum of understanding (MOU) for the joint development of a solar power project in Spain at the Plaza Hotel in Seoul. About 20 officials, including Kim Byung-sook, President of Korea Western Power, and Kim Hee-chul, President of Hanwha Q CELLS, attended the signing ceremony.

The main content of this MOU is the joint development of 150MW out of the total 200MW solar power project that Hanwha Q CELLS is developing after acquiring the local Spanish solar project developer 'Hive' last September.

Korea Western Power will maintain and manage the power plant assets through equity participation in the project and will conduct direct and indirect financing from financial institutions. Hanwha Q CELLS will supply solar modules for the solar power plant and be responsible for the design and construction of the solar power plant. Korea Western Power and Hanwha Q CELLS plan to maximize synergy by fully utilizing each company's expertise.

Kim Byung-sook, President of Korea Western Power, said, "We are confident to target overseas markets together with Hanwha Q CELLS, which has outstanding technology in the global solar module field," adding, "If the two companies complement each other based on their experience and know-how, we will continue to achieve good results on the global stage."

Kim Hee-chul, President of Hanwha Q CELLS, stated, "Hanwha Q CELLS' solar modules have achieved the number one position in major solar markets based on excellent quality and technology," and added, "Based on proven technology and expertise in key countries, we will be an excellent solar business partner for Korea Western Power."

This content was produced with the assistance of AI translation services.