Hanwha Buys Stakes in Photovoltaic Companies for $23 Million

Hanwha Group, a South Korean industrial group, said its units paid a total of $23 million for stakes in two U.S. photovoltaic companies.

Hanwha Chemical Corp. bought a stake in Santa Clara, California-based venture Crystal Solar for $15 million, according to an e-mailed statement from the parent.

Hanwha International LLC purchased a stake in OneRoof Energy Inc., a San Diego, California-based company that develops, owns and operates solar energy generation systems for the residential market, for $8 million, according to the statement.

To contact the reporter on this story: Sangim Han in Seoul at sihan@bloomberg.net

To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net.

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