Hanwha SolarOne has signed an agreement with Wuxi, a city of six million people in eastern China, to develop, own and operate 100MW of distributed PV capacity.
Chief financial officer Jay Seo calls the memorandum of
understanding, signed with the Wuxi New District Administrative Committee, “another
important step towards developing [our] downstream business in China”.
China-based SolarOne – which is majority owned by Korea’s
Hanwha – is like many of its rivals rapidly building a projects business as
China dramatically balloons its PV capacity.
The arrangement will see the Wuxi Administrative Committee provide
SolarOne with prime rooftop space, facilitate local government approvals and
grid connections, and help pin down preferential tax treatment and project
financing, the company says.
SolarOne has signed a number of memoranda of understanding
regarding downstream partnerships in recent months.
“We intend to become a significant project owner and
operator in China,” says Seo.