[THE INVESTOR] Hanwha Q Cells, Hanwha Group’s NASDAQ-listed affiliate, reported Aug. 24 that its second-quarter operating profit came to US$84.5 million, skyrocketing 8,450 percent from the same period last year, and marking a 49 percent surge from the previous quarter.
Its revenue more than doubled from 2015’s US$338 million to US$638 million, which was also a 14 percent rise from the previous quarter.
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Maywood Solar Farm constructed by Hanwha Q Cells in Indianapolis, Indiana. |
In April 2015, the Hanwha subsidiary received an order from NextEra Energy Resources to supply over 1.5 gigawatts of solar modules as part of the largest single solar order in the world, estimated to be worth about 1 trillion won (US$894 million). The US partner is the world’s largest generator of renewable energy from the wind and sun. It also has sealed a 25-year power purchase agreement with state-run Austin Energy to build a solar photovoltaic plant in US state Texas.
“Despite the highly cyclical and dynamic nature of our industry, we remain optimistic about long term growth prospects in our industry as solar power will have much higher penetration in the global energy mix,” said Nam Seong-woo, chairman and CEO of Hanwha Q Cells, in a statement.
Hanwha Q Cells is one of the largest photovoltaic manufacturers in the world, offering a full spectrum of products, applications and solutions that range from modules to solar power plants.
By Hwang You-mee (
glamazon@heraldcorp.com)
