Hanwha SolarOne Gets $574 Million Bank of Beijing Loan

Hanwha SolarOne Co., a solar-panel maker that’s a unit of South Korean conglomerate Hanwha Group, arranged to borrow as much as 3.5 billion yuan ($574 million) from Bank of Beijing Co.

Drawdowns on the three-year credit facility are subject to approval from the bank, Shanghai-based Hanwha SolarOne said today in a statement.

The funding will be used by the company to build solar farms in China. The company currently has 250 megawatts of projects in development, according to the statement.

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