Hanwha Solar to Develop 100 Megawatts of Rooftop Power in China

Hanwha SolarOne Co. (HSOL), the China-based photovoltaic manufacturing unit of South Korea’s Hanwha Group, agreed to develop 100 megawatts of rooftop power systems in eastern China.

The Wuxi New District Administrative Committee, in Jiangsu province, will provide rooftop space and facilitate government approval and grid connections, Qidong, China-based Hanwha SolarOne said today in a statement. The committee will also aid in arranging tax incentives and financing.

Hanwha will own and operate the systems and the deal is part of the company’s efforts to expand its project-development business.

“We intend to become a significant project owner and operator in China,” Jay Seo, Hanwha SolarOne’s chief financial officer, said in the statement.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Will Wade, Stephen Cunningham

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