Hanwha Solutions Accelerates with 80% Execution of Solar Power Investment...

Next-Generation Solar Cell Mass Production Process
Scaling Up Cell and Module Manufacturing Facilities
Chungbuk Jincheon and Eumseong Wafer Lines
18.45 Billion KRW Spent by End of June
Organizational Restructuring in the US Also Underway

[Asia Economy Reporter Oh Hyung-gil] Hanwha Solutions is accelerating its investment pace by spending over 80% of the planned solar power facility investment amount by the end of the year. Most of the investment reflects the company's determination to further strengthen its competitiveness in the solar power business, aiming at new processes for mass production of next-generation solar cells and scaling up cell and module production facilities.

According to Hanwha Solutions on the 14th, out of the 225.4 billion KRW planned for solar power facility investment by the end of this year, 184.5 billion KRW had been spent as of the end of June. The investment execution rate reached 82%.

Hanwha Solutions' Q CELLS division is investing a total of 157.4 billion KRW in its Jincheon and Eumseong plants to establish production lines for large wafers (M10). This includes 115 billion KRW for mass production of large cell and module wafers at the Jincheon plant and 42.4 billion KRW for a large module wafer production line in Eumseong. Switching from existing wafers (M6) to large wafers (M10) can increase the output of solar cells.

In line with the scaling up of cells and modules, investments have also been made in key sheet materials. Hanwha Solutions' Chemical division is establishing a joint venture, H&G Chemical, with GS Energy in the Yeosu Industrial Complex, Jeollanam-do, to produce ethylene vinyl acetate (EVA), a key material for solar module sheets. EVA sheets are essential materials that maintain the performance of solar cells. Hanwha Solutions' Advanced Materials division is also investing approximately 41.7 billion KRW in Eumseong, Chungbuk, to expand the EVA sheet production line accordingly.

Additionally, Hanwha Solutions plans to invest 64 billion KRW for experimental facilities for Tunnel Oxide Passivated Contact (TOPCon) solar cells. TOPCon refers to cells produced based on N-type wafers with a thin oxide layer inserted, improving power generation efficiency by about 1 percentage point compared to existing products. By establishing a new cell line utilizing high-efficiency TOPCon technology, Hanwha Solutions aims to secure the largest domestic cell production capacity of 5.4 GW and start producing TOPCon cells from the second half of this year.

Investment to improve existing processes will also continue. A total of 36.4 billion KRW will be invested to apply LDSE (Laser Doping Selective Emitter) and oxidation processes.

LDSE equipment irradiates the silicon surface of solar cell cells with a laser to reduce contact resistance in the electrode area, thereby increasing electrical conductivity. Compared to existing manufacturing methods, it allows the electrode width to be narrowed, which enables the solar cell surface to receive more solar energy, resulting in improved power generation efficiency.

Hanwha Solutions plans to establish Korea as a global core base for solar technology and product manufacturing by building R&D and state-of-the-art production facilities domestically. In the U.S., the company is enhancing efficiency through local organizational restructuring ahead of production facility investments. Vice Chairman Kim Dong-kwan of Hanwha Solutions oversees the solar power business, traveling between Korea and the U.S.

With the implementation of the U.S. Inflation Reduction Act (IRA), the North American market is expected to grow rapidly. To efficiently manage local operations, Hanwha Solutions reorganized its U.S. operations. Hanwha Solutions' subsidiary Hanwha Q CELLS America was transferred to Hanwha Global Asset, and Hanwha Solutions unified management of U.S. entities including Hanwha Q CELLS America Holdings and Hanwha Q CELLS America through Hanwha Global Asset.

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