ID :
208197
Tue, 09/20/2011 - 08:50
Auther :
Shortlink :
https://oananews.org//node/208197
The shortlink copeid
Hanwha Group to ramp up new energy business in China
HONG KONG, Sept. 20 (Yonhap) -- South Korea's Hanwha Group will ramp up its solar energy business in China, company officials said Tuesday, in a bid to expand its presence in the renewable energy sector.
In the World Economic Forum held in the northeastern city of Dalian last week, Hanwha Group officially announced its establishment of its China headquarters in Beijing.
As part of its new strategic initiative, Hanwha is looking to advance in the solar power generation sector, said group executives in China.
"China will be the strategic base for Hanwha to transform itself into a global firm," Keum Choon-soo, head of Hanwha Group China, said earlier.
Hanwha Chemical, one of the group's leading affiliates, took over Solarfun Power Holdings, a Chinese solar modules manufacturer, last year and renamed the company Hanwha Solar One.
Earlier this month, Hanwha Solar One and Hanwha Solar Energy, the group's two renewable energy arms, signed a memorandum of understanding with the Chinese provincial government of Ningxia to set up a solar energy facility.
The move was aimed at helping reforest the country's denuded areas and prevent further desertification in northwestern China.
Hanwha Group, which is one of South Korea's leading family-run conglomerates with business operations in chemicals, explosives, defense, securities and construction, said the new plant will have an hourly power generation capacity of 80 kilowatts. The power generated will be used to run a tree nursery needed for the reforestation of 855 hectares of land.
According to the firm, this is the first time solar energy has been used for a forestation project. The project is also sponsored by the United Nations Convention to Combat Desertification.
The conglomerate, meanwhile, said its operations in China generated over 2 trillion won (US$1.96 billion) in sales last year. The group aims to generate 10 trillion won in sales per year in China by 2020.
In the World Economic Forum held in the northeastern city of Dalian last week, Hanwha Group officially announced its establishment of its China headquarters in Beijing.
As part of its new strategic initiative, Hanwha is looking to advance in the solar power generation sector, said group executives in China.
"China will be the strategic base for Hanwha to transform itself into a global firm," Keum Choon-soo, head of Hanwha Group China, said earlier.
Hanwha Chemical, one of the group's leading affiliates, took over Solarfun Power Holdings, a Chinese solar modules manufacturer, last year and renamed the company Hanwha Solar One.
Earlier this month, Hanwha Solar One and Hanwha Solar Energy, the group's two renewable energy arms, signed a memorandum of understanding with the Chinese provincial government of Ningxia to set up a solar energy facility.
The move was aimed at helping reforest the country's denuded areas and prevent further desertification in northwestern China.
Hanwha Group, which is one of South Korea's leading family-run conglomerates with business operations in chemicals, explosives, defense, securities and construction, said the new plant will have an hourly power generation capacity of 80 kilowatts. The power generated will be used to run a tree nursery needed for the reforestation of 855 hectares of land.
According to the firm, this is the first time solar energy has been used for a forestation project. The project is also sponsored by the United Nations Convention to Combat Desertification.
The conglomerate, meanwhile, said its operations in China generated over 2 trillion won (US$1.96 billion) in sales last year. The group aims to generate 10 trillion won in sales per year in China by 2020.
