Hanwha Q CELLS Signs Business Agreement with Pohang City for 60MW Industrial Complex Solar Power Project

[Asia Economy Reporter Hwang Yoon-joo] Hanwha Q CELLS, the green energy business division of Hanwha Solutions, signed a business agreement for the 'Pohang Solar Factory' project with Pohang City and Korea East-West Power on the 9th.

The Pohang Solar Factory project involves leasing factory rooftops and idle land within the Pohang industrial complex to install solar power generation facilities. The project scale is approximately 96 billion KRW, aiming to install a total of 60MW (megawatts) of solar power plants. The project will generate revenue through the sale of Renewable Energy Certificates (REC), and participating companies will earn income by leasing idle land within their factories.

Under this business agreement, Pohang City will provide administrative support such as permits for the solar power project, Hanwha Q CELLS will supply solar modules and perform EPC (Engineering, Procurement, and Construction) and project management, and Korea East-West Power will jointly handle REC trading and project management. A portion of the profits from this project will be used for social contribution projects within the local community to promote coexistence.

According to the Korea Industrial Complex Corporation, the potential power generation capacity of factory rooftops in over 1,000 industrial complexes nationwide is 5GW, which is equivalent to the capacity of five coal-fired power plants. Companies can generate additional economic benefits by utilizing idle land within their factories, and since no separate development activity permits are required to obtain solar power plant project rights, the costs and time for permits are minimal, enabling quick installation. Additionally, installing solar panels helps maintain a consistent internal factory temperature, reducing utility operation costs. Hanwha Q CELLS also operates its own solar power plants with capacities of 1MW and 500kW on the parking lot and rooftop of its Jincheon factory, respectively.

Kim Hee-chul, CEO of Hanwha Q CELLS, stated, "Solar power plants utilizing idle spaces in industrial complexes are one of the ideal distributed power generation methods where power production and consumption occur in the same area," adding, "We will actively supply our high-quality solutions, chosen by customers in major industrial complexes in countries such as the United States and Germany, to the domestic market as well."

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