Intersolar South America 2018: Hanwha Q CELLS to exhibit at the show for the first time
- Hanwha Q CELLS will participate in the South America exhibition for the first time to establish a solid foundation for successful market entry
- Hanwha Q CELLS will exhibit Q.POWER L-G5 modules suitable for large power plants, as well as Q.PEAK L-G5 modules, suitable for residential and commercial markets
- Also on display will be the Q.PEAK DUO-G5, Hanwha Q CELLS’ highest performance module, to emphasize their technology leadership
- Hanwha Q CELLS CEO Seong Woo Nam stated: “We will preemptively respond to unstable market conditions via a market diversification strategy, which includes South America, a region highly likely to grow”
[Berlin, Germany, August 23, 2018] Hanwha Q CELLS Co., Ltd. (“Hanwha Q CELLS”), one of the largest solar cell manufacturers in the world, will participate at Intersolar South America 2018 in Expo Center Norte, São Paulo, Brazil from August 28 to 30. Intersolar South America is one of the flagship regional exhibitions of the Intersolar calendar, which is renowned across the solar industry. An estimated 240 companies will be in attendance in Brazil this year, and this is the first time that Hanwha Q CELLS will participate in an exhibition held in South America.
South America is gathering attention as one of the best regions for solar power generation because of its abundant solar radiation and plentiful hours of sunshine. In particular, the Brazilian solar market has vast potential to grow due to average sunshine duration that is 1.6 times that of South Korea, as well as concerted efforts to diversify energy sources at the national level. With this exhibition, Hanwha Q CELLS is planning to establish a solid foundation for successful market entry into South America by promoting its position as a global leader and emphasizing its excellent technology, focusing on primary markets such as Brazil and Chile.
At Intersolar South America, Hanwha Q CELLS will mainly exhibit its Q.POWER L-G5 and Q.PEAK L-G5 solar modules, which are the main products available in the South American market. The Q.POWER module is a multicrystalline solar module with excellent cost-efficiency, making it an ideal solution for the types of very large PV plants that are becoming commonplace across the continent. The Q.PEAK module, meanwhile, is a high-performance monocrystalline module that produces abundant electricity in a small area, making it suitable for South American residential and commercial markets – both of which are highly likely to grow in the future. Based on these two products, Hanwha Q CELLS will target the entire South American solar market, from large power plants to residential and commercial installations.
To highlight its technology leadership, Hanwha Q CELLS will also display the Q.PEAK DUO L-G5 – the company’s highest-performance module. Q.PEAK DUO, a monocrystalline solar module with half-cut cells, has a maximum output of 400Wp based on Q.ANTUM DUO technology, Hanwha Q CELLS’ state-of-the-art technology. It is also optimized for real environments, ensuring high output and long-term stability even in less-than-optimal conditions such as low light or high temperature. In recognition of its technological excellence and product innovation, the Q.PEAK DUO was selected as the only solar module winner at the Intersolar Award 2018, which was held in June in Germany.
Seong Woo Nam, CEO of Hanwha Q CELLS, said, “South America is a region with a suitable environment for solar power generation, and one of the areas expected to grow rapidly in the future. While the global solar market is unstable due to a number of global policy changes, such as safeguard tariffs in the U.S. and subsidy cuts in China, we will achieve increased sales and profit stabilization through a market diversification strategy, which include the South American region.”
Table: Primary Market Size in South America (in GW)
(Source : GTM Latin America Playbook Q4, 2017)
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 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 partnerships to its customers in the utility, commercial, governmental and residential markets. Hanwha Q CELLS is a flagship company of Hanwha Group, a FORTUNE Global 500 firm and a Top 10 business enterprise in South Korea. For more information, visit: http://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 GmbH
Jochen Endle, Ian Clover
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