SEOUL, July 12 (Korea Bizwire) — Hanwha Solutions Corp., a key energy unit of South Korean conglomerate Hanwha Group, said Tuesday it will work with a German renewable energy firm to push for a 500 megawatt (MW) solar power development project in the European country in a bid to tap deeper into the region with its clean energy business.
Hanwha Q Energy, Hanwha Solutions’ wholly-owned subsidiary in Germany, will co-develop 38 solar power plant projects, with the size in range of 2-70 MW each, with Enviria Energy, a Frankfurt-based renewable energy solutions company, Hanwha said in a release.
Hanwha said 500 MW generates enough power to provide electricity to 150,000 households per year in Germany.
Hanwha Solutions will utilize Enviria’s local networks to secure the land needed for the solar power development and related government licensing, it said.
By 2025, Hanwha Solutions plans to build and sell solar power plants there or operate them directly and sell electricity.
It will also seek opportunities to diversify and expand the renewable energy business to those such as wind power, energy storage system and others, Hanwha added.
Hanwha Solutions launched Q Energy early this month to oversee its energy business in Europe. Through Q Energy, Hanwha Solutions controls RES Mediterranee SAS, a major French renewable energy company it acquired last October.