Hanwha Group

South Korean industrial giant Hanwha launched its new Q Energy business over the summer, and is moving forward with an ambitious strategy of energy projects across the European continent. pv magazine caught up with Sang Chull Chung, CEO of Q Energy Group, for a look at its plans to accelerate deployment of renewables to alleviate Europe’s energy challenges.

The Korean group is currently developing a 9.2 GW PV plant portfolio in Europe and its new holding company — Q Energy Solutions SE — will unify all operations across France, Germany, and the Iberian Peninsula under the same umbrella.

French energy giant Total called the 50:50 joint venture a “first significant step” into the U.S. utility-scale solar market.

Hanwha Solutions has confirmed that it will shut down its polysilicon business over the course of the next year, only a week after saying that it was still evaluating its plans for the sector.

Four bids have been lodged for 100 MW projects and fifth for a 90 MW facility, all in peninsular Malaysia, to indicate the 500 MW tender will fall short of its intended capacity. The lowest solar power price lodged is for $0.042/kWh.

The government has unveiled a plan to help the PV industry reduce the cost of solar panels from around $0.23/W to $0.10/W by 2030. The plan also aims to reach module efficiencies of around 24% – up to 35% for multi-junction cells – by the end of the next decade.

With the Q Cells solar business warning it is preparing an instant appeal if a U.S. ITC judge rules against it Stateside, the chemical company parent announced its solar panel business saw a year-on-year, third quarter rise in revenue from KRW818 billion to KRW1,638 billion.

The Korean conglomerate has signed a joint operation investment agreement with Vietnam-based BCG Bang Duong to develop $100 million, 100 MW solar plant in nation’s Thanh Hoa district.

The project development arm of LG Group has won the contract to build the $142.55 million Japanese solar farm, which will be owned and operated by China’s Canadian Solar, with funding from Hanwha Group.