Hanwha SolarOne Plans Expansion In China

Hanwha SolarOne Co. Ltd. (formerly known as Solarfun Power Holdings Co. Ltd.), a vertically integrated manufacturer of silicon ingots, wafers and photovoltaic cells and modules in China, has signed an investment memorandum of understanding (MOU) with the Nantong Economic and Technological Development Zone, located in Jiangsu Province, China, to construct a new production facility there.

According to the MOU, SolarOne plans to build cell and module production facilities with 2 GW annual capacity in Nantong. Under the first phase of the project, SolarOne plans to invest approximately $500 million in three years to build cell and module production facilities with 1 GW annual capacity in Nantong.

SOURCE: Hanwha SolarOne Co. Ltd.

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