Published on August 14th, 2012 | by Adam Johnston1
Hanwha SolarOne Breaks into North American Market with Hanwha SolarEnergy America
The new subsidiary will allow Hanwha SolarOne to expand into operation and maintenance solutions (O&M), financing, development, and engineering procurement (EPC).
The company formed on the basis from Hanwha purchasing Solar Monkey in 2011. The new organization serves both the utility and retail sectors.
Hanwha SolarEnergy will be able to sell their solar panels in North America, with an estimated project pipeline of 1 gigawatt (GW).
“With a thousand megawatts of projects in the pipeline, the newly branded Hanwha SolarEnergy America represents a significant force in project development,” said Matthew McCullough, chief executive officer of Hanwha SolarEnergy America, in a statement.
“The full capabilities of Hanwha Solar, from manufacturing to project development to finance, will allow us to become a leading provider of solar energy services in North America,” he said.
With the purchase of OneRoof Energy, tenKsolar, and Silent Energy, Hanwha SolarEnergy America will look to capture a good chunk of the North American solar market as one official discussed:
“This development combines three powerful assets: the strength of the Hanwha Financial Network, the manufacturing efficiencies of Hanwha SolarOne and Hanwha Chemical, and the project development expertise of Hanwha SolarEnergy America. Together, it makes us the most dynamic and reliable partner in the North American growth market for turnkey solar solutions,” said Mark Bronez, president of Hanwha SolarOne USA. “Hanwha Solar is capable of supplying and carrying a project from concept all the way through to continuing operations and maintenance of a finished installation, offering great value and the highest quality along the way. By making the solar value chain more efficient, Hanwha Solar is committed to working with partners to build a clean energy future in North America and worldwide.”
Hanwha SolarEnergy America has already recently completed projects in various cities across California, including: Los Angeles, San Clemente, Temecula, Valencia, South Gate, and Fresno.
Only time will tell how this South Korean based company will stack up here in the North America against other companies.