Martifer Solar and Hanwha Q CELLS Korea complete 17.8 MW Portuguese PV project

Portugal-based Martifer Solar has teamed up with Hanwha Q CELLS Korea to complete a new, 17.8 MW cluster of PV plants across three Portuguese regions.

The PV cluster comprises six individual solar plants scattered across the regions of Lisbon, Setubal and Evora, and combined are expected to produce clean energy sufficient to power more than 24,800 local homes in the process, removing some 19,300 tons of carbon emissions in the process.

Hanwha Q CELLS Korea is one of the world’s leading downstream PV companies and acted as the lead on a Korean-based consortium of investors in the project, which includes the Financial Investment Trusts managed by Shinhan BNP Paribas Asset Management. Martifer Solar will oversee all maintenance and operations of the six plants, which entered into full operation this week.

In total, more than 74,000 Hanwha SolarOne modules were installed in the project, a ground mounted collection of solar farms ranging from 2.2 MW to 6.7 MW each.

"As part of our strategy to become the top player in the field of PV solar energy, Portugal was an attractive country to invest in, since the country has a tremendous amount of insolation," said Jiho Shin, Hanwha Q CELLS Korea.

"Although the financial environment was less than friendly, we aggressively exploited Portugal’s strength in the abundance of natural resources, and successfully turned risks into profitable opportunities. Martifer Solar was and will be a valuable and reliable partner that helped us to realize these opportunities."

Henrique Rodrigues, CEO of Martifer Solar, added: "Today, we have strengthened our commitment to Portugal. The completion of a project of this magnitude was only possible thanks to the great cooperation that we have built with all the governmental entities involved." Martifer Solar’s total installed PV capacity in Portugal now stands at 50 MW, and is close to 500 MW worldwide.

"We are very grateful to Hanwha, who have entrusted our company to develop this project," concluded Rodrigues. "These kinds of partnerships will allow us to proceed in our current leading position in the PV sector."