Korea’s Hanwha boosting solar cell output, eyes 4GW by 2020

South Korea’s Hanwha Group is laying out a long-range plan to double its revenues by 2015, and boost solar capacity to 4GW by 2020, according to reports.

September 10, 2010 – South Korea’s Hanwha Group is laying out a long-range plan to double its revenues by 2015, and boost solar capacity to 4GW by 2020, according to reports.

Hanwha Chemical currently has about 30MW/year capacity out of its Ulsan facility in southeast Korea, thanks in large part to a Spire turnkey line which it signed off on earlier this year, with which it planned to produce 15.8% efficient multicrystalline silicon cells at >34MW/year. Japan’s Nikkei daily cites company CEO Hong Ki-Joon saying the company will spend ~6T won (US $5.13B) on an expansion of solar cell output capacity to 4GW/year over the next decade. (Japanese suppliers, including Tokyo Electron, saw stocks rise on this news, the paper noted.)

Hanwha also has been active outside its walls recently; as of August it is the largest stakeholder (49.99%) in China’s Solarfun, and plans to expand that company’s capacity to 1.5GW in 2011 (from 900MW now) and spend >3T won (US $2.56B) on the business through 2018, and shift focus from heavily on European demand to growing demand in China and the US, according to Bloomberg.

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