Following signing of this MOU, both the companies intend to enter into a definitive strategic cooperation agreement within 60 days.
As part of the deal, HanWha will leverage HTR’s existing JV project company with a large state-owned electric power company, as well as plans to jointly establish a JV company to develop and construct PV power plant projects.
HTR plans to use PV modules produced by Hanwha in its 700MW power plant projects or select HSOL to be the EPC service supplier for the company’s projects.
Hanwha SolarOne chief financial officer Jay Seo said the MOU with HTR provides further impetus to the accelerating downstream activities in China.
"The contemplated cooperation on HTR’s planned 700 MW PV power plant projects with a well-established SOE provides the potential for either a large module supply agreement or selection as sole EPC provider," Seo added.
Hanwha SolarOne, which is a flagship company of Hanwha Group, serves the utility, commercial, government and residential markets through a growing network of third-party distributors, OEM manufacturers and system integrators.
Image: Hanwha SolarOne, Shanghai HuiTianRan to develop and construct PV power plant projects. Photo: Courtesy of duron123/ FreeDigitalPhotos.net.
