SIT Changes Company Name to 'Hanwha Convergence'... Appoints Kim Chang-yeon as New CEO

Existing Factory Solution Capability-Based
Green Energy Business Promotion

Kim Chang-yeon, the new CEO of Hanwha Convergence. Photo by Hanwha Convergence

[Asia Economy Reporter Choi Seoyoon] SIT, a subsidiary of Hanwha Energy, has changed its company name to ‘Hanwha Convergence’ and appointed a new CEO.

According to Hanwha Convergence on the 1st, Kim Chang-yeon, head of the Financial Planning Team in the Holding Division of Hanwha Energy, was appointed as the new CEO of Hanwha Convergence on the same day. CEO Kim, recognized as an expert in the energy sector with key positions in Hanwha Solutions Q CELLS division’s GES (Green Energy Solution) business, is evaluated as the right person to lead Hanwha Convergence’s green energy business promotion and competitiveness enhancement.

The new company name embodies the meaning of creating new value through convergence across industries based on digital capabilities. With this name change as a turning point, the company plans to grow into a global leader in green energy and factory solutions.

Hanwha Convergence has provided differentiated factory solutions to clients based on top-level monitoring and control technologies and real-time large-scale data processing capabilities. In particular, it has contributed to enhancing clients’ business competitiveness by establishing factory equipment monitoring and control systems in various industrial fields including high-difficulty semiconductor and display, as well as solar power, automotive, power generation, and plants.

Based on accumulated digital technology and energy business experience, Hanwha Convergence is promoting its green energy platform business. Centered on VPP-based power trading business and global O&M business, it provides renewable energy-related services such as ▲RE100 implementation solutions ▲renewable energy power trading ▲global O&M.

The operation and maintenance (O&M) business, which has experience in operating and managing global 1GW scale solar power and ESS (Energy Storage System), is expanding into the US and European markets based on Hanwha Group’s solar power network and its self-developed HEIS 2.0.

The energy integrated control platform HEIS 2.0, which was unveiled last month, applies the latest technology based on Amazon Web Services (AWS) cloud. It provides optimized green energy platform services for the entire value chain from power plant monitoring to data collection and control, O&M, and power trading.

CEO Kim said, “With the company name change as an opportunity, we will realize our mission of ‘adding value to technology to fulfill tomorrow’s dreams’ and provide differentiated services in factory solutions and green energy fields based on our large-scale data processing technology, monitoring and control, and system integration capabilities.”

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