"This attractive and profitable distributed generation project in Southern China is part of a cooperative business development agreement with a large well-established state-owned enterprise (the "SOE") signed in 2013," said Jay Seo, chief financial officer and head of China Business of Hanwha SolarOne.
"The agreement also sets out aims for Hanwha SolarOne and the SOE to further collaborate on the development of PV solar plants across China in the near future," he continued. "We have successfully completed other large-scale EPC contracts in China and will use this track record to assist us in developing our PV project portfolio as an IPP, as well as other additional downstream activities."
Seo added, "The Chinese central and local governments are encouraging the development of distributed generation solar projects throughout the country with new incentives and other favorable policies. We are pleased to play a meaningful role in the country's efforts to increase solar power."
Hanwha SolarOne serves the utility, commercial, government, and residential markets through a network of third-party distributors, OEM manufacturers, and system integrators.
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