Hanwha SolarOne Plans Venture to Develop Solar Farms in China

Hanwha SolarOne (HSOL) Co., the photovoltaic manufacturing unit of South Korea’s Hanwha Group, plans to set up a venture with Shanghai HuiTianRan Investment Holding Group to develop solar projects in China.

HuiTianRan will use Hanwha SolarOne panels for its 700 megawatts of planned projects or choose the company to provide engineering, procurement and construction services, Shanghai-based Hanwha said today in a website statement.

“We have now identified downstream business potential of 950 megawatts in China,” Chief Financial Officer Jay Seo said in the statement.

To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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