The nation's leading solar cell maker Hanwha Q Cells Korea will build a 1.5 gigawatt (GW) solar cell plant in Jincheon, while recently merged Hanwha Q Cells will double production of its current 250 megawatt (MW) modules at its plant in Eumseong, North Chungcheong Province, Hanwha Group said Sunday.
The company will invest 350 billion won in the solar cell plant, which will be completed within this year; and 10 billion won in the solar module plant, scheduled to be completed in September.
The group said that the expansion was aimed at meeting increasing demand for cells and modules in the downstream solar energy market as well as preparing for additional orders following a recent large-scale order it received from the United States.
Hanwah Q Cells closed a deal with U.S. power company NextEra Energy in April to supply 1.5 GW modules from the fourth quarter until the end of 2016.
"By having new facilities we have ensured a stable supply NextEra Energy. And it also means we are prepared for the solar energy era," a company official said.
Also, the new plants are expected to play a pivotal role in a Hanwha-driven project to build solar power hub in South Chungcheong Province.
The group forecast the two plants will hire an additional 950 people in the region, contributing to the revitalization of the sagging local economy