Hanwha SolarOne Co Ltd (NASDAQ:HSOL) Expands In Europe


Dallas, Texas 01/10/2014 (FINANCIALSTRENDS) – Hanwha SolarOne Co Ltd (NASDAQ:HSOL), is a $276.71 million market cap solar ingots and PV cells maker, operating from cost-effective Chinese manufacturing facilities. The company does operate in the specialized semiconductor sector as well, offering a host of low-priced products as well.

Hanwha SolarOne Co Ltd (NASDAQ:HSOL) has since announced its new line of surrogate operation in United Kingdom. The company’s supply of solar modules of 20.5 megawatt to a German undertaking which is currently building a facility in a U.K. Solar park is likely to be completed by the first quarter of 2014.

European expansion, Chinese consolidation

Hanwha SolarOne Co Ltd (NASDAQ:HSOL) has upped its activities in Europe recently. The company has already reported a project with Belgian firm which too was involved in a UK project. Besides, the company will also supply solar components to a Portugal-based solar park. The latter project was reported in the previous quarter.

Hanwha SolarOne Co Ltd (NASDAQ:HSOL) has sparked a good rally in the first week of January as the Chinese government extended new policies directed at Mergers and Acquisitions to bring immediate and high quality of support to the industry. Considering the high fragmentation in the Chinese industry, the higher movement in the companies will allow for consolidation of capacities and bring down operational costs. Additionally, the government has also revised the target to over 35GW by 2015.

Hanwha has also worked a Memorandum of Understanding with the US Company OneRoof Energy for the supply of 50MW for residential installations.

Yingli is one of the other solar companies which will make one of the first moves to consolidation in the Chinese market by announcing a joint venture with China national Nuclear Corp, a company owned by the government. This will allow Yingli to begin work on over 500 MW –sized utility projects.