Tiendas Soriana, Hanwha Q CELLS, and ILIOSS® partner to install 31 MW of solar
power in Mexico
- Q CELLS systems to be installed at 120 retail stores across the country
- Hanwha Q CELLS to provide financing for all 31 MW
- ILIOSS to design and install solar systems
MONTERREY, Mexico, March 24, 2014
MONTERREY,Mexico, March 24, 2014 /PRNewswire/ --Tiendas Soriana S.A. de
C.V., Mexico's second largest retail company, and Hanwha Q CELLS, one of the
world's leading full-service solar power companies, today announced a 20-year
Power Purchase Agreement (PPA) for 31 megawatts (MW) of photovoltaic (PV)
solar power at 120 retail locations across Mexico that will create significant
long-term energy savings for Soriana. The agreement lays the foundation for a
long-term partnership, which could lead to new installations at additional
Soriana stores in the future.
Hanwha Q CELLS will partner with Mexican developer and construction company
ILIOSS to install rooftop and carport systems in Soriana's stores in Mexico
City and the states of Mexico, Jalisco, Queretaro and twelve others. Soriana
will reduce a significant portion of their energy demand by using onsite solar
power while fixing its long-term energy cost. Hanwha Q CELLS will finance all
Hanwha Q CELLS and ILIOSS have already begun construction on the first seven
solar systems in Baja California Sur, which will feature more than 12,000
high-efficiency, German engineered Q CELLS Q.PRO-G3 250 W panels to provide
approximately 3.05 megawatts of combined generation capacity. Construction on
all 120 sites is expected to be completed by early 2015.
"Soriana is an ideal partner for a solar project of this scale in Mexico,"
saidAlejo Lopez, Hanwha Q CELLS Country Manager for Mexico. "Solar power
makes strong economic sense for many large retail and industrial energy users
in Mexico, even without any government subsidies."
"With great solar resources and a positive investment outlook, Mexico is a
prime growth market for Hanwha Q CELLS," said Moon Hwan Cha, Hanwha Q CELLS
USA President. "The robust financial standing of the Hanwha Group allows
Hanwha Q CELLS to establish long-term partnerships with customers in key
markets like Mexico and other emerging markets in Latin America."
"With this association Hanwha Q CELLS, Soriana and ILIOSS join forces to
provide the most advanced technology to obtain clean energy at preferential
costs. This project allows Soriana to meet both its sustainability and cost
saving goals" said Aurelio Adan, CFO of Soriana.
"It is a privilege for ILIOSS to partner with such great companies as Soriana
and Hanwha Q CELLS on this ambitious project, the biggest rooftop project in
Mexico and Latin America. Our experience and professional capacity will
provide certainty on the quality of the design and construction of the solar
systems." said David Arelle, ILIOSS CEO.
Tiendas Soriana S.A. de C.V. is a fully owned subsidiary of Organizacion
Soriana (BMV: SORIANAB). Soriana is a Mexican public company and is the second
largest retailer in Mexico with more than 640 stores. Soriana is a grocery and
department store retail chain headquartered in Monterrey, Nuevo Leon, Mexico.
The company is 100% capitalized in Mexico and is publicly traded on the
Mexican stock exchange (Bolsa Mexicana de Valores), since 1987 under the
symbol: "Soriana". www.soriana.com.mx
About Hanwha Q CELLS
Hanwha Q CELLS is headquartered in Germany and one of the world's leading
photovoltaics companies, offering a wide range of high quality photovoltaic
products, solutions and services "Engineered in Germany". Next to its premium
quality products from high-quality solar modules to systems and power plants
the company also offers long-term partnership and financial stability being
part of the South Korean Top-Ten business enterprise Hanwha Group. At its
headquarters in Thalheim (Germany) Hanwha Q CELLS has a unique setup of R&D
and production enabling the company to develop technologically leading
products and innovative manufacturing methods. The cell production sites in
Malaysia and Germany and the module production line in Germany are the core of
manufacturing. In addition, the company converts its high-efficiency solar
cells into modules in cooperation with certified contractors in Europe and
Asia. Hanwha Q CELLS sells its products via its international sales network
with branches in Germany (HQ), Malaysia, Korea, USA, Canada, Japan and
Australia. Thanks to its truly international setup, high quality products and
the financial stability, Hanwha Q CELLS is the reliable partner for PV
customers around the globe. For more information, visit: www.q-cells.com.
About Hanwha Group
Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in
South Korea with 51 domestic affiliates and 109 global networks in three major
sectors: manufacturing and construction, finance, and services and leisure.
With more than 60 years track record of industrial leadership, Hanwha's
manufacturing and construction businesses encompass a broad range of fields
from basic chemicals and advanced materials to property development and total
solar energy solutions.The finance network, covering banking, insurance,
asset management and securities, is the second largest non-bank finance group
in South Korea. The services and leisure sector offers premium lifestyle
services with retail and resort businesses. For more information, visit:
ILIOSS provides solutions for energy sale, financing, engineering,
procurement, construction and operation of solar energy systems. ILIOSS is the
leading Mexican solar developer and EPC company with the highest rooftop PV
power installed. Among its clients there are recognized commercial and
industrial companies and real estate developers. www.ilioss.com.
SOURCE Hanwha Q CELLS USA
Contact: Hanwha Q CELLS, Alejo Lopez, Phone: (949) 748-5996 x240, Email:
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