Hanwha Q CELLS Supplies 20MW Solar Modules to Hyundai Motor Company’s Idle Site

Rooftop solar power plant installed on idle land within Hanwha Q CELLS Jincheon factory. Photo by Hanwha Q CELLS

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Hanwha Solutions Q CELLS Division (Hanwha Q CELLS) will supply modules for self-consumption solar power plants to be installed at Hyundai Motor Company's domestic sites. Hanwha Q CELLS plans to discover and promote various renewable energy projects utilizing 'idle land' suitable for Korea's geographical environment in response to the increasing demand for carbon-free energy from corporations.

Under this contract, Hanwha Q CELLS will sequentially supply a total of 20 MW of solar modules to Hyundai Motor Company starting from the first half of 2024. Additionally, Hyundai Motor Company will utilize idle land within its sites such as factory roofs, finishing yards, and parking lots to secure approximately 27 GWh of renewable energy annually, achieving an annual carbon reduction effect of about 12,000 tons.

Self-consumption solar power, which produces renewable energy by utilizing idle land within business sites such as factory roofs and parking lots, involves installing power plants on already developed sites, thus posing no environmental destruction concerns and maximizing land use efficiency. In particular, 'rooftop' solar power, which uses building roofs or rooftops, consumes the generated electricity immediately, reducing energy loss during transmission and distribution, and does not require large-scale grid connection processes, minimizing project development costs and time.

In Korea, where 70% of the land is mountainous and there is insufficient land for expanding renewable energy, rooftop solar power is one of the renewable energies with the highest potential for dissemination. According to an independent analysis by Next, a domestic energy think tank, the potential capacity of rooftop solar power including general buildings and industrial complexes in Korea is estimated at a total of 42.2 GW.

With the global market's increasing demand for carbon neutrality, it is expected to drive the renewable energy demand of domestic companies. Europe and the United States are respectively promoting the introduction of the Carbon Border Adjustment Mechanism (CBAM) and the Clean Competition Act (CCA), which impose taxes based on the carbon emissions of exported goods. As of February 2024, 427 global companies have declared participation in RE100, a voluntary campaign to replace 100% of the electricity used by companies with renewable energy.

According to a recent survey conducted by the Korea Chamber of Commerce and Industry targeting 300 domestic manufacturing companies, 41.3% of the respondents answered that they are 'directly or indirectly affected' by industrial environmental changes due to carbon neutrality.

Meanwhile, Hanwha Q CELLS, which was the first domestic renewable energy company to declare participation in K-RE100 in February 2021, produces and consumes renewable energy directly by installing a total of 3.9 MW of idle land solar power on the roof and parking lot of its Jincheon plant in Chungbuk.

Lee Gu-young, CEO of Hanwha Q CELLS, stated, "Self-consumption solar power utilizing idle land is one of the most realistic ways for companies to achieve carbon neutrality," adding, "Hanwha Q CELLS will actively respond to the renewable energy demand of major domestic and international companies."

Meanwhile, the ‘Q.PEAK DUO G11’ modules supplied by Hanwha Q CELLS are core products that have maintained Hanwha Q CELLS' high brand value in the global market due to their excellent performance and quality. Hanwha Q CELLS has achieved the No. 1 market share for up to five consecutive years in the major U.S. module market and has recorded high brand reputation by winning the ‘Top Brand PV’ award selected by industry insiders for 10 years in Europe and 2 years consecutively in the U.S. until last year. Additionally, it has realized high customer satisfaction domestically by winning the ‘Korea Consumer Award’ hosted by the Korea Consumer Agency for six consecutive years.

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