Hanwha Q Cells sells 142 MW solar power plant in Washington
Hyung-Kyu Kim
Oct 02, 2024 (Gmt+09:00)
Hanwha Q Cells Co., a solar panel manufacturing arm of South Korea's Hanwha Solutions Corp., said on Wednesday that it sold a 142-megawatt solar power project in Washington State.
The buyer is Puget Sound Energy, Inc. (PSE), the largest utility energy provider in Washington State. The sale price was not disclosed.
Hanwha Q Cells had been carrying out the initial development work for the plant, including site selection, acquisition, and obtaining permits.
Even after selling the project rights, Hanwha Q Cells will continue supplying equipment and performing engineering, procurement, and construction (EPC) services.
Hanwha Q Cells plans to begin EPC work next year and complete the construction by the end of 2026, creating approximately 300 jobs during the construction period.
PSE will begin commercial operation of the plant in December 2026, supplying renewable energy to more than 30,000 households.
Hanwha Q Cells explained that by selling the development assets before performing the EPC, they can enhance business stability and optimize their revenue structure.
The company continues to achieve steady success in the EPC field within its green energy solutions business.