Solar - 05/10/2012

Martifer Solar and Hanwha Solarenergy Corporation signed contracts for the development of 17.6 MW solar PV plants in Lisbon

Martifer Solar announces the acquisition by Hanwha SolarEnergy of 17.6MWp solar photovoltaic (PV) project, located in Lisbon area, Portugal.

This project is being developed based on the mutual cooperation between Hanwha SolarEnergy, Hanwha SolarOne and Martifer Solar. "This partnership can be a good model showing that Hanwha is strengthening strategic partnerships with EPC providers and developers for successful solar projects." said Mr. Jiho Shin, COO of Hanwha SolarEnergy.

Martifer Solar and Hanwha SolarEnergy provide EPC and O&M turnkey solution for the solar PV project based on a consortium to carry out the services together. Hanwha SolarOne modules are used in the solar PV project, together with the Martifer Solar Single Axis Smartracker. The project will be completed in 2012. Hanwha SolarEnergy secured finance for this project from major Korean financial institutions. "Martifer Solar is a reliable partner, especially here in Portugal and this project will be the cornerstone for the possible future partnership for both companies. Hanwha SolarEnergy will fully utilize this particular solar PV project to advance into Portugal solar markets as well as other European solar markets" said Mr. Jiho Shin.

These solar PV plants are expected to produce around 34.3 GWh of clean solar energy in the first year of operation alone, the equivalent to the average consumption of more than 23,500 Portuguese families and is expected to avoid the emission to the atmosphere of around 7,000 tons of CO₂/year.