Hanwha capitalizes on Davos forum for solar marketing

Hanwha Group, a family-owned Korean conglomerate, has spurred its drive to market its fledgling engine-solar power business, starting with the 2014 World Economic Forum as the first international venue for promoting its goods.

Hanwha, together with other firms, sponsored the annual meeting ― better known as the Davos forum in Korea. The forum is a global gathering of world business and government leaders who meet in Davos, Switzerland, to discuss pressing global agenda and build worldwide networks.

Hanwha dispatched five executives from its affiliates including Hanwha Q-Cells CEO Kim Hee-cheul and the firm’s chief strategy officer Kim Dong-kwan, to catch up with the latest trends in the global solar power market and ultimately, promote its business.

Based in Germany, Hanwha Q-Cells is the world’s third largest solar module manufacturer. It is also a key affiliate for the group’s solar power business.

To flaunt what Hanwha Q-Cells has to offer, the company installed about 640 solar modules with a maximum output of 175 kilowatt peak, or KWp, on the rooftop of the Davos Congress Center, the venue for the 2014 Davos forum, as a donation.

“Sponsoring the project gave the chance to promote solar energy to the world as the most reliable energy source on earth,’’ said Kim Hee-cheul, the Hanwha Q-Cells chief executive.

A group official added that the WEF was the “perfect venue” to raise brand awareness and market the company, which is focused on the development of future energy resources.

On the side, the Korean firm also hopes to see a pickup in its business both at home and abroad.

According to the forecasts of Hanwha Q-Cells, the world’s four largest solar power markets ― China, Japan, U.S. and Europe ― will lead the recovery of the global demand for solar power.

“Demand for solar modules is expected to rise by 20 percent this year over 2013, and the company, in particular, sets its sight on growing demand for solar power in China and Japan,” Kim said.

China, for instance, has turned its eyes to emission-free solar power to replace coal-based power generation in an attempt to improve its notorious air pollution. Industry watchers forecast China will install more than 20 gigawatt solar modules per year from this year.

In line with the growing demand for solar power solutions, Hanwha Q-Cells will expand the capacity at its plant in Malaysia with an additional 204 megawatt peak, or MWp, of production by June this year.

“By the end of this year, the total solar cell production capacity of Hanwha Q-Cells will reach up to 1.1 gigawatt peak, or GWp,” Kim said.

Hanwha Group has expanded its solar power business under the leadership of group chairman Kim Seung-youn who undertook the mission of taking over several global solar power companies, including Q-Cells in Germany in 2012.

Hanwha is now the only firm to provide total solar power solutions in the world, ranging from solar cells, modules to power plants.

After the company’s former chairman was put behind bars for embezzlement last year, his eldest son Dong-kwan now leads the group’s solar power business development and strategies.

By Seo Jee-yeon (jyseo@heraldcorp.com)