Qcells plans to build a new solar panel manufacturing plant in the United States. Annual production capacity will peak at 1.4 GW. Solar cell production is also expanding in its native South Korea.
Investments $ 320 billion.
$ 170 million
It will cost $ 170 million to set up a new factory in the United States. The company already has a 1.7 GW peak plant in Dalton, Georgia in the United States. With the opening of the new factory in the first half of 2023, the total production capacity of the United States will grow to more than the 3 GW peak.
It accounts for about a third of the United States’ GDP. Hanwa already employs about 750 people in the United States and aims to further increase the number of jobs by opening a new factory. Furthermore, the company says it is willing to invest in the domestic production of scales and solar cells if the US government expands Buy American law and stimulates domestic production with long-term tax breaks. “Ensuring policy commitment is crucial to achieving our goal of rebuilding the American solar value chain,” said Justin Lee, CEO of Hanwha Qcells.
5.4 GW peak
With a $ 150 million investment in South Korea to expand solar cell production, annual capacity there will soon peak at 5.4 gigawatts.
To improve the manufacturing process and reduce CO2 emissions, Hanwa Solutions will purchase low carbon polysilicon from a variety of manufacturers. For example, in April, the company entered into an agreement with OCI, a South Korean polysilicon manufacturer, to purchase Polysilicon manufactured in factories running on CO2-free electricity produced by hydropower plants. OCI will supply ‘clean polysilicon’ to Hanwa for the next 10 years. In March, Hanwa became a majority partner of REC Silicon, a Norwegian-based polysilicon manufacturer that operates large manufacturing facilities in the United States. REC Silicon uses hydropower to make PV-grade polysilicon at its Moses Lake, Washington state production facility.
