Combines project financing and development solutions for utility & commercial customers

Hanwha SolarOne Co. Ltd. (Hanwha SolarOne), a top-10 global photovoltaic manufacturer of low-cost, high-quality solar photovoltaic modules, has launched Hanwha SolarEnergy America (HSEA), expanding the company's North American capabilities downstream with project financing, development, engineering, procurement, construction (EPC) and operations & maintenance (O&M) solutions. The company serves customers in the utility and commercial sectors.

The launch of HSEA marks the completion of integrating Solar Monkey, the Irvine, Calif. based developer Hanwha Solar purchased an initial stake in January 2011, with the Hanwha Solar network. The newly branded HSEA has developed a project pipeline totaling one gigawatt.

"With a thousand megawatts of projects in the pipeline, the newly branded Hanwha SolarEnergy America represents a significant force in project development," said Matthew McCullough, chief executive officer of Hanwha SolarEnergy America. "The full capabilities of Hanwha Solar, from manufacturing to project development to finance, will allow us to become a leading provider of solar energy services in North America."

Hanwha SolarEnergy America continues Hanwha Solar's expansion downstream, following strategic investments in innovative companies like OneRoof Energy for residential lease financing, tenKsolar for high energy output rooftop systems and Silent Power for energy storage. Hanwha Solar will continue to integrate these and more investments into the Hanwha Solar Network — including Hanwha's financial and manufacturing operations - to offer the most innovative, value-add solar solutions in the industry.

"This development combines three powerful assets: the strength of the Hanwha Financial Network, the manufacturing efficiencies of Hanwha SolarOne and Hanwha Chemical, and the project development expertise of Hanwha SolarEnergy America. Together, it makes us the most dynamic and reliable partner in the North American growth market for turnkey solar solutions," said Mark Bronez, president of Hanwha SolarOne USA. "Hanwha Solar is capable of supplying and carrying a project from concept all the way through to continuing operations and maintenance of a finished installation, offering great value and the highest quality along the way. By making the solar value chain more efficient, Hanwha Solar is committed to working with partners to build a clean energy future in North America and worldwide."