Hanwha Q Cells to reach 1.3GW
Hanwha Q Cells has started integrating an additional 204MW production line at its solar cell plant in Malaysia, which will push the company’s overall output capacity to 1.3GW by the end of June 2014.
The Malaysia plant at Cyberjaya near Kuala Lumpur alone will have a production capacity of 1.1GW, the company says.
The output increase comes after Hanwha Q Cells increased its capital by $188.5m in November.
“The capacity increase will enable our company to leverage even higher economies of scale, hence further improving our financial performance,” says Seong Joo Ryu, managing director of Hanwha Q Cells Malaysia.
In 2014, the company plans to expand its business in the residential and commercial rooftop segments, especially in its European home markets and in Japan.
Hanwha Q Cells also intends to gain further market share in the power plant solution business in Europe, Asia and North America.
“We are very confident to reach positive full-year figures in 2014,” chief executive Charles Kim says.