Positive first year for Hanwha Q Cells

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Bitterfeld-Wolfen based Hanwha Q Cells reports a positive first year since the official start of the company on October 16, 2012. The company has managed to ramp up exisiting production capacities in its global manufacturing sites, namely with its Malaysian plant seeing an increase from 800 to more than 900 MW. The total production capacity is now 1.1 GW. "We have made important steps in fully utilizing our capacities in all plants while increasing the efficiency of our production sites, thus reducing production costs significantly," stated CEO Charles Kim.

The company managed to maintain strong business in the European domestic markets and has also entered the Japanese market. For example, the company reported supplying a 4.5 MW project in France in September and a 60 MW order from Japan in July this year.

On the products front, Hanwha Q Cells introduced its new G3 product series, including Q.PRO, Q.PEAK solar modules and the Q.FLAT system for flat rooftops. Reduction of production costs and increasing performance and quality of products were said to be the company’s biggest challenges. With the new products, Hanwha Q Cells reported that expectations have been exceeded. Additionally the Q.ANTUM cell technology is also apparently doing well yielding attractive LCOE.

The company remains positive about the future. Hanwha Q Cells is currently seeking more than 50 new employees to join its team.