Hanwha SolarOne has signed a memorandum of understanding to develop 100 MW of distributed generation projects in the Chinese port city of Yantai.
The PV manufacturer signed the five-year agreemennt with the Yantai Municipal Bureau of Commerce (YMBC) to establish a long-term strategic partnership with the aim to develop distributed generation (DG) PV projects.
Hanwha SolarOne intends to develop, own and operate 100 MW of distributed generation projects in Yantai, a major port city in Shandong province.
YMBC will help secure rooftop space, facilitate project approval and grid connection as well as aid with obtaining tax preferences and project financing, according to Hanwha Solar.
"Hanwha SolarOne continues to make progress in establishing a downstream business in China," said Jay Seo, Hanwha Solar chief financial officer and head of the group's China business.
Seo said the company had already identified rooftops that will accommodate approximately 8 MW of DG projects and was now in the process of securing permits as part of the new partnership.
Hanwha SolarOne will use its own modules and handle engineering, procurement and construction (EPC) services for all projects under the agreemnent, Seo added.
"The latest government initiatives are already having a meaningful impact on the acceleration of distributed generation projects in China and we feel we are ideally positioned to gain further traction in the market going forward," Seo noted.
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