Hanwha pushes forward in the solar photovoltaic power generation business. Its strategy is to use the power generation business to help solve the difficult problem of deteriorating profitability caused by cutthroat competition in the polysilicon and solar battery and module manufacturing industries.

The Hanwha Group has been expanding its solar photovoltaic business, taking over SolarOne, a Chinese solar photovoltaic cell module company, in August 2010 and Q-Cell, a German cell manufacturing company, in August 2012. Thus, the Hanwha Group has completed vertical systematization related to solar photovoltaic power generation from crude material to product production and power plant construction and operation. So far, the Hanwha Group has invested about 2 trillion won in the solar photovoltaic business.

Hanwha Chemical invested 200 billion won with a capital increase of Hanwha Solar Holdings last year. While most solar photovoltaic companies are withdrawing investment plans in a long-term slump, it went ahead with a large-scale investment. 

The photovoltaic companies of the Hanwha Group such as Hanwha Q-Cell and Hanwha SolarOne recorded module sales of 1800 MW (l.8 GW) in total in 2013 and photovoltaic power generation plant completion has reached 113 MW. Hanwha Q-Cell turned profit-making in September 2013, a year after it was taken over by the Hanwha Group. Hanwha SolarOne is expected to have achieved reduced production costs and increased sales in the fourth quarter of 2013. 

As the polysilicon factory whose construction was completed in Yeosu by Hanwha Chemical started operation in 2014, the investment by the Hanwha Group is gradually bearing fruit. The Hanwha Group is the only organization in the world which has continued to improve its global competitiveness in the photovoltaic industry with successful vertical systematization of photovoltaic business ranging from polysilicon production to ingot, wafer, cell, and module and power generation projects.

The Hanwha Group recently started achieving significant business results in the photovoltaic market worldwide. The Kalaeloa Renewable Energy Park, which is a 5MW photovoltaic power generation plant constructed by Hanwha Q-Cell, was completed on December 16, 2013 on Oahu Island in Hawaii. Starting with this project, Hanwha Q-Cell will push for a 24 MW photovoltaic power plant project in Hawaii alone. 

Earlier than this, on December 2, 2013, Hanwha Q-Cell signed a power supply agreement with Soriana, a representative distribution chain company of Mexico, for roof-top photovoltaic power generation plants of 31 MW in total to be installed in 120 regions in Mexico by the end of 2014. In February 11, 2014, Hanwha Q-Cell took an order from ARG, a U. K. power generation company, for a construction project of a 24.3 MW photovoltaic power plant in the Stowbridge region, Cambridgeshire, U. K. Hanwha Q-Cell will supply 94,500 solar panels and take charge of plant design and procurement as well as construction.

Hanwha SolarOne also signed some weighty agreements in December last year. On December 4, 2013, it signed an MOU to supply modules for 150 MWs worth of photovoltaic power generation plants to be constructed in Nantong and Jiangsu Provinces by ZTT (Jiangsu Zhongtian Technology) Company of China. On December 12, 2013, it signed an agreement to supply 50 MWs worth of modules to the Huaneng Group of China, a power supply company ranking second in the world. On December 11, 2013, it signed an agreement to supply 13 MWs worth of modules to the affiliates of the Chint Group, a Chinese electric equipment and energy group.

Besides, Hanwha Q-Cell and Hanwha Energy are jointly constructing a 5 MW photovoltaic power generation plant in California, U. S. A. The Hanwha Group is also constructing 42.5 MWs worth of solar power plants in three regions in the province of Ontario, Canada.

Office Chief Kim, the elder brother of the chairman (Seung-Youn Kim) of the Hanwha Group, moved to Hanwha Q-Cell in August 2013 after he had been appointed as Chief of the Planning Office of Hanwha SolarOne in 2011. Chief Kim began his new appointment with participation in the tape cutting ceremony of EXPO, and is known to have discussed the development of a mega solar project with a Japanese enterprise.

That Hanwha is expanding its downstream business, which refers to the development of solar power generation plant development and construction, is analyzed to be an action for boosting operating profits. Hanwha successfully achieved vertical systematization which leads to polysilicon production, as well as solar batteries and modules centering on Hanwha Chemical/Hanwha Q-Cell/Hanwha SolarOne. With a polysilicon manufacturing factory on a scale of 10 thousand tons and a cell production capability of 2.4 GW annually, it has grown into a solar power enterprise ranking third in the world. Nevertheless, it still needs to work on improving operating profits as the downward trend of polysilicon cell module prices continues.