Solar, Utility Integration

Hanwha SolarOne obtains $100M loan

Hanwha SolarOne Co. Ltd. (NASDAQ:HSOL), a China-based vertically integrated solar manufacturer, received a 5-year, USD100 million loan, led by Standard Chartered Bank and Korea Development Bank.

September 22, 2011 – PRNewswire — Hanwha SolarOne Co. Ltd. (NASDAQ:HSOL), a China-based vertically integrated solar manufacturer, received a 5-year, USD100 million loan, led by Standard Chartered Bank and Korea Development Bank.

“The new loan facility provides us with the capital resources to fund our continued business expansion, and we view it as a critical component of our financial plan,” said Jay Seo, Hanwha SolarOne CFO.

The agreement provides for loans in US dollars.

Hanwha SolarOne Co. Ltd. (NASDAQ:HSOL) is a vertically integrated manufacturer of silicon ingots, wafers, PV cells and modules. The Company benefits from its strategic partnership with its largest shareholder Hanwha Group who is active in solar project development and financing and plans to produce polysilicon in the future.  For more information, visit www.hanwha-solarone.com.

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