Emboldened by a 68% increase in PV shipments in the first half of the year, German-headquartered PV company Hanwha Q CELLS has announced today that it will increase its global production capacity to 1.5 GW by the end of 2014.
In shipping 539 MW in the first six months of the year, Hanwha Q CELLS has cemented its position as Europe’s leading PV provider, enjoying a 68% increase in shipping volumes in the process.
This growth has been predicated on the addition of 204 MW of production capacity for the companys high performance solar cells at its Malaysian manufacturing facility, and has triggered todays announcement that the company will add a further 230 MW production capacity in Malaysia and Germany before year end.
"Hanwha Q CELLS is further expanding its strong position in the international markets," said company CEO Charles Kim. "Against the background of rising global demand for our high quality PV products and solution we will further increase our international production capabilities."
Hanwha Q CELLS completed the 204 MW expansion of its Malaysian production line ahead of schedule in June, taking total production capacity to 1.1 GW with full utilization rates expected soon. The company has also launched ‘Manufacturing Excellence Initiative’ at both its Cyberjaya plant in Malaysia and its plant in Thalheim, Germany, designed to reduce cycle times and increase throughput and potentially add 200 MW to production capacity before the end of the year.
"With the increased capacity and enhanced operational excellence, we will further strengthen our position as leaders in technology and quality by providing high efficiency products with competitive pricing to our customers," added Hanwha Q CELLS MD for Malaysia, SJ Ryu.