NEWS

2017.11.24

GGGI Energy Forum 2017 organized by GGGI and Hanwha Q CELLS was held in Seoul to promote accelerated adoption of green energy globally

  • GGGI serves as a platform for energy experts, politicians and companies for global energy transition discussions.
  • 100% renewable electricity supply is feasible and, in addition, more economic than the current energy model.

 

[Seoul, Republic of Korea, November 24, 2017] On November 24, 2017, the Global Green Growth Institute (GGGI) and Hanwha Q CELLS held the GGGI Energy Forum 2017 in Seoul. Under the theme of “Green Energy – Energizing a Sustainable World,” the GGGI Energy Forum serves as a platform for energy experts, politicians and companies from various nations to discuss the world’s transition to 100% renewable energy. The aim is to share knowledge, expertise and experiences in green energy, renewables, and finance.

With continually decreasing renewables prices, the global energy transition is progressing at a faster rate than the world has expected. Already, wind and solar are the cheapest sources of electricity, with storage technology to soon follow. Disruptive technology improvements in the renewable energy sector and the search for practical solutions to climate change, air pollution, poverty, and refugee crises are accelerating the process.

The GGGI Energy Forum started with keynote speeches, followed by an interactive discussion among the participants, who shared how their respective countries are making transitions to low-carbon and renewable economies.

One highlight was the presentation by the South Korean government on the policy shift towards alternative sources of energy. Currently, renewable energy, such as solar and wind power, accounts for just 2 percent of South Korea’s electricity production, while coal-fired power plants and nuclear reactors generate about 40 and 30 percent, respectively. The Moon Jae-in administration is making a strong push to increase the share of renewables considerably.

Hans-Josef Fell, President of the Energy Watch Group and member of the German Parliament from 1998 to 2013, gave an inspiring speech on his experience of working on the Renewable Energy Sources Act or Erneuerbare-Energien-Gesetz (EEG) and sharing his views on how South Korea can phase out nuclear energy and make a transition to renewables. He commented that “Effective climate protection needs a global transition to a zero emission economy in just a few decades. A global transition to 100% renewable electricity is feasible at every hour throughout the year and is also more cost effective than the existing fossil and nuclear system. This is the result of a study by Energy Watch Group that what was presented recently at COP-23 in Bonn, Germany.”

 

About Global Green Growth Institute (GGGI)

The Global Green Growth Institute (GGGI) is a treaty-based international organization headquartered in Seoul, Republic of Korea. The organization aims to promote green growth, a growth paradigm characterized by a balance of economic growth and environmental sustainability. GGGI provides research and stakeholder engagement for green growth plans, especially in developing countries, aiming to replace the more typical paradigm based on industrial development. Founded to support green economic growth that simultaneously addresses poverty reduction, job creation, social inclusion, and environmental sustainability. GGGI supports stakeholders through the delivery of comprehensive products and services designed to assist in developing, financing, and mainstreaming green growth to support the implementation of national economic development priorities and international commitments.

 

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.

 

Safe-Harbor Statement

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.

 

Contact:  

Hanwha Q CELLS

Albert Park, Global Brand & Communication

TEL +82-2-729-2012

EMAIL Albert.park@hanwha –qcells.com



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