Hanwha SolarOne Co. Ltd. has signed a memorandum of understanding (MOU) with Jiangsu Zhongtian Technology Co. Ltd. (ZTT) as the first step in a partnership to cooperate on the development, construction, financing and grid connection of 150 MW of distributed energy projects in Nantong, China.
‘The MOU with ZTT is a significant step in accelerating our downstream activities in China,’ says Jay Seo, chief financial officer and head of downstream business for Hanwha SolarOne." The contemplated cooperation on ZTT's 150 MW distributed generation project in Nantong, as part of the government's initial National Level Demonstration Plot, will be a strong start to the relationship between our two companies.’
The two companies intend to enter into a definitive strategic cooperation agreement within 90 days.
