Hanwha SolarOne signs 50 MW module deal with Baotou Shansheng

Hanwha SolarOne has signed its second 50 MW module supply agreement with Baotou Shansheng New Energy Co., Ltd.

Deliveries are scheduled to begin in October and due for completion by the end of November. The modules will be used in ground-mounted projects in Hohhot and Baotou, Inner Mongolia.

Hanwha SolarOne last month announced a similar 50 MW module supply deal with Baotou New Energy.

Hanwha SolarOne Chief Financial Officer Jay Seo EO, who oversees the group’s business in China, said, "We have now signed 100 MW in module supply agreements with deliveries taking place between August and November this year, alone representing approximately a four-fold increase in volumes shipped to China during the first half of 2014."

Seo added that the company anticipated further momentum in its Chinese business in view of the government formalizing a 13 GW target for solar installations in 2014 and its expressed support for distributed generation.

"These measures should have a meaningful impact on market demand in China beginning no later than the fourth quarter and have a lasting effect on demand for years to come," Seo added.