G&B S Eco, 4.5 Billion KRW Supply Contract... "Entry into the US Solar Power Market"

GNBSE Eco accelerates the expansion of the global solar power market by successfully securing its first order for the U.S. market.

On the 17th, GNBSE Eco announced that it had signed a supply contract worth 4.5 billion KRW for eco-friendly solar scrubber equipment with Hanwha Q CELLS GEORGIA, INC.

The equipment to be supplied this time is scheduled to be applied to Hanwha Solutions' solar factory in Georgia, USA, corresponding to a scale of 1GW. Hanwha Solutions plans to increase its local module production capacity to a total of 8.4GW by 2024, and accordingly, GNBSE Eco's orders for the U.S. market are expected to continue.

GNBSE Eco also plans to establish a local corporation in the U.S. to strengthen its market responsiveness. Hanwha Solutions, a major client, is known to invest a total of 3.2 trillion KRW in Georgia, USA, to build an integrated solar production complex called the ‘Solar Hub,’ covering ‘ingot, wafer, cell, and module’ production.

With the implementation of the Inflation Reduction Act (IRA), the U.S. is reducing its dependence on China by building domestic solar production facilities, which is expected to benefit Korean companies entering the U.S. market. The scale of new solar installations in the U.S. is projected to expand to 49GW in 2024 and 100GW by 2030. Hanwha Solutions currently holds the number one market share for residential and commercial solar modules in the U.S. Through the Solar Hub, it plans to establish a core solar value chain and solidify its position as the market leader locally.

Having entered the U.S. solar market following China and India, GNBSE Eco is expected to accelerate the expansion of global solar equipment orders. In particular, through the expansion of new markets such as the U.S. and India, the company anticipates achieving significant growth in scale this year. A company representative stated, "As our major clients are actively investing in overseas solar power, the demand for GNBSE Eco’s eco-friendly scrubber equipment will also increase," adding, "We plan to focus on diversifying our sales channels with the goal of expanding our market share in the solar sector this year."

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