Hanwha Q CELLS Japan Surpasses 3 GW Milestone of Accumulated Solar Module Shipments in Japan since 2011
- 3 GW milestone surpassed after only 6 years of operation in the country
- Hanwha Q CELLS already ranked second in yearly module shipments of 2016 and continuing growth
- Q.PARTNERS network with over 700 companies and Q.MAX series are success drivers in commercial and residential market segments
[Tokyo, Japan, September 21, 2017] Hanwha Q CELLS Japan, the Japanese subsidiary of the world’s largest producer of 100% inhouse solar cells and modules, Hanwha Q CELLS Co., Ltd. (NASDAQ: HQCL), today announced to have surpassed the milestone of accumulated solar module shipments of 3 GW in Japan in the second quarter of 2017. The company entered the Japanese solar market in August 2011. Only two years later, in 2013, Hanwha Q CELLS Japan was already the largest foreign solar product provider in Japan. In 2016, Hanwha Q CELLS shipped 700 MW of solar modules in Japan, ranking second among the solar suppliers in the country and accounting for 10% of market share in Japan. According to the International Energy Agency (IEA), the total amount of solar modules installed in Japan by the end of 2016 was 42.8 GW, of which 7% was supplied by Hanwha Q CELLS Japan. Hanwha’s market share in Japan climbed to about 15% in the second quarter of 2017. Hanwha Q CELLS Japan aims for another record year in the country.
Hanwha Q CELLS Japan addresses the needs of customers in commercial and residential markets
The constant success of Hanwha Q CELLS in the Japanese solar market is based on the superior performance and quality of its “Engineered-in-Germany” solar products and on Hanwha Q CELLS Japan’s high versatility to flexibly adapt to the unique and dynamic market conditions of Japan. After the years of Feed-In-Tariff (FIT) driven solar business and large-scale projects in Japan, Hanwha Q CELLS Japan adapted very quickly to the falling FIT. The company continuously cultivated its Q.PARTNERS network of installers and sales agents and created solutions for the specific needs of Japanese companies as well as residential customers. The popular Q.MAX series contributed a lot to the success in the commercial segment – an assortment of devices including power conditioners, frames, and racks, of which the adoption lowers the barrier to enter into solar power systems, and shows the commercial value of solar power.
Seung Woo Nam, CEO of Hanwha Q CELLS Co., Ltd., said: “We are very proud to be continuously increasing our success in Japan. Being the second largest provider of solar systems in Japan is especially meaningful, because the criteria for product performance and quality are extremely high in the country. Having met the needs of a market with such high standards, we are confident that the performance and quality of our products can convince anyone, anywhere.”
Jong Seo Kim, President of Hanwha Q CELLS Japan said: “We are very happy about our development in Japan during the last couple of years. However, we’ve only just begun. We will continue to work very hard in order to serve even better solar products and solutions for the needs of our valued customers in Japan in the future.”
About Hanwha Q CELLS Japan
Hanwha Q CELLS Japan was established in 1984 as a Japanese subsidiary of South Korea’s leading enterprise, Hanwha Group, and commemorated its 30th anniversary in February 2014. Hanwha Q CELLS Japan conducts exportation, importation in Asia and sales in the Japanese market for various key industries, such as solar energy (photovoltaic module importation and IPP), chemicals, iron, steel, mechatronics, manufacturing facilities, automotive components and IT products. Hanwha Q CELLS Japan entered the PV business in 2011 and became a Top 3 PV manufacturer in Japan based on shipment volume in 2016.
For more information, visit: www.q-cells.jp/
About Hanwha Q CELLS
Hanwha Q CELLS Co., Ltd. (NASDAQ:HQCL) is one of the world’s largest and most recognized photovoltaic manufacturers for its high-performance, high-quality solar cells and modules. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with its diverse international manufacturing facilities in Malaysia, South Korea and China. Hanwha Q CELLS offers the full spectrum of photovoltaic products, applications and solutions, from modules to kits to systems to large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, the company provides excellent services and long-term partnership to its customers in the utility, commercial, government and residential markets. Hanwha Q CELLS is a flagship company of Hanwha Group, a FORTUNE Global 500 firm and a Top 8 business enterprise in South Korea. For more information, visit: www.hanwha-qcells.com.
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Hanwha Q CELLS operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Further information regarding these and other risks is included in Hanwha Q CELLS filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, Hanwha Q CELLS does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Hanwha Q CELLS Japan
DI SHIN, Junichi Katayama
TEL +81 3 5441 5928
Source: Hanwha Q CELLS Co., Ltd