Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Hanwha to Expand in North America After Solar Monkey Integration

Don't Miss Out —
Follow us on:

Aug. 8 (Bloomberg) -- Hanwha Group, a closely held South Korean industrial conglomerate, created a project development unit to finance and build power plants that will use panels produced by its Hanwha SolarOne unit.

The unit, Hanwha SolarEnergy America, incorporates Solar Monkey, the Irvine, California-based developer in which Hanwha purchased a stake in January 2011, according to a statement today.

“The full capabilities of Hanwha Solar, from manufacturing to project development to finance, will allow us to become a leading provider of solar energy services in North America,” SolarEnergy America Chief Executive Officer Matthew McCullough said in the statement.

Hanwha SolarEnergy America has a project pipeline totaling 1 gigawatt and has completed six projects in California, according to the statement.

The company announced in July that it planned to offer energy-storage technology that would increase the value of solar systems.

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

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.