The Germany-based PV manufacturer is adding a 204 MWp production line to its Malaysian plant, where the increased production capacity will be fully ramped-up by autumn.
Hanwha Q CELLS is expanding capacity at its plant in Malaysia with an additional 204 MWp production line for the companys high efficiency solar cells.
The company said on Thursday that the move would raise the production capacity of the manufacturing facility in Cyberjaya, close to Kuala Lumpur, to 1.1 GWp and total production capacity to 1.3 GWp.
After increasing the company's capital by $188.5 million in November, the capacity increase again underscores Hanwha Q CELLS´ positive business outlook for 2014 and its determination to become a leading player in solar industry globally, the company said.
"More and more customers in the international PV markets demand the unique combination that we have to offer: best quality products ‘engineered in Germany,' complete solutions and services for PV systems and power plants and all that based on the reliable partnership with a financially stable company," said Hanwha Q CELLS CEO Charles Kim. "With regards to this heightened demand we increase our capacity in order to fulfill our customers' requirements."
The construction at the Cyberjaya plant began in December and the additional production line is scheduled to be fully operational by early autumn, resulting in approximately 70 new jobs at the Malaysian site, the company said.
Production will focus on the high efficiency solar cells for Q CELLS´ Q.PRO G3 polycrystalline PV modules.
"With the expansion, the Hanwha Q CELLS Malaysia facility will finally exceed 1 GW of cell production capacity, thereby ensuring a continuous supply of multi-crystalline high quality solar cells to our certified module manufacturing partners," said Seong Joo Ryu, managing director of Hanwha Q CELLS Malaysia.
"In addition, the capacity increase will enable our company to leverage even higher economies of scale, hence further improving our financial performance."
Outlook 2014: Business expansion in rooftop segments and power plant solution business
After a successful first full year for Hanwha Q CELLS in 2013, the company is set to expand its business in the residential as well as the commercial and industrial rooftop segments particularly in its European home markets and in Japan. The company added that it would use its "strengthened balance sheet" to gain further market share in the power plant solution business in Europe, Asia and North America.
"Based on our experience of around 600 MW of installed power plant capacity, we offer complete and tailor-made power plant solutions and services," Kim stressed. "Our portfolio in this segment reaches from project development, to EPC, to operations and maintenance up to financing solutions."
The company said both the capacity increase as well as its planned business expansion underlined a positive outlook for 2014. Kim added that the group was "very confident to reach positive full-year figures in 2014."
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.