India : Hanwa, Korea Solar Company, joint venture deal for ReNew Power’s project

HANWHA-Q-CELLS

New Delhi: Seoul based Hanwha Q CELLS on Tuesday inked solar module supply agreement and Joint Venture deal for two solar projects with Renew Power Ventures.

Hanwha Q CELLS will provide 148.8 MW of its 310/315 Wp (HSL72S) solar modules to ReNew Power, with deliveries beginning in August of 2015 and scheduled for completion during 2016.

Hanwha Q CELLS and ReNew Power also formed JV for two solar energy projects totaling 148.8 MW. Hanwha will partner with ReNew to develop, build and operate the projects.

‘As a leading energy company, our goal is to rapidly expand business and we wanted to partner with companies that have the right capabilities and experience to understand our business requirements. We are very pleased to partner with Hanwha Q CELLS in executing these two projects in Telangana,’ said Sumant Sinha, Chairman & CEO, ReNew Power.

‘This Joint Venture is yet another step in the right direction and shows that we continue to be a partner of choice in this rapidly growing sector,’ he added.

The solar projects are located in the Medak and Mehbub Nagar districts in the State of Telangana, with commissioning anticipated in June 2016. The delivery, totaling 477,419 modules, will begin August 2015 and is scheduled to be completed in 2016.

Power generated from these projects will be sold under a Purchase Power Agreement (PPA) with the Southern Power Distribution Co of Telangana State Ltd.

‘We view India as one of the most promising emerging solar markets in the world and we are aggressively pursuing business as both a preferred module supplier and as a developer of solar energy projects,’ said Seong Woo Nam, CEO, Hanwha Q CELLS.

‘ReNew Power owns renewable energy assets of more than 1 GW of commissioned and under-construction in India,’ the company said in a statement.

Hanwha Q CELLS supplies its ‘German Engineered’ modules from production facilities located in China, Malaysia and South Korea.

Early this month, ReNew Power inked deal with Chinese firm Hareon Solar to develop a solar project of 72 MW capacity in the State of Andhra Pradesh. According to the deal, ‘Hareon Solar will supply 234,161 modules which will begin in August 2015 and is scheduled to be completed by December 2015.

Both these companies, Hareon Solar and Hanwha Q CELLS, are making their first investment in solar projects in India.

India is one of the most rapidly growing solar markets in the world with government’s policy support.

Prime Minister Narendra Modi has  plans to reach 100 GW installed PV power generation by 2020.

Source: Green India Post

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1 Comment

  1. Minwo Kim

    01/08/2015 at 9:40 pm

    India is water shortage. So Floating Solar Plant’s wonderful idea for India. And it’s very important to maintain effectively same direction and position on the water for floating solar plants. Because directional change of solar panels reduces electricity production. So floating solar plants also need the directional control mooring systems for their parked positions. Azimuth and position change of floating solar plants caused by wind, waves and external forces. Restoring Force Strengthened Mooring System for floating solar plants has been created in South Korea. This Mooring System generates Restoring Force immediately when floating solar plants are being rotated or moved on the water.

    In addition, you have to reduce vibration to install floating solar plants. Because, it can make micro-cracks to floating solar panels and the durability problem of floating solar plants. The risk of power loss in PV modules due to micro cracks is increasing. Vibrations caused by wind, waves and external forces. New Type Floating Body Stabilizer has been created in South Korea. The Floating Body Stabilizers generate drag force immediately when floating solar plants are being rolled, pitched and yawed on the water. Recently, Restoring Force Strengthened Mooring Systems and Floating Body Stabilizers have been used for floating solar plants in South Korea. You can see them in Ochang Dam natural reservoir, South Korea. I N I WORLD

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