Hanwha Q Cells said Tuesday that it has joined hands with Korea Western Power to launch solar power projects in Spain with a total capacity of 150 megawatts.

According to South Korea’s leading solar cell and module maker, it signed a memorandum of understanding with Kowepo at Plaza Seoul Hotel on Monday agreeing to cooperate on the projects.

In September last year, Hanwha Q Cells purchased the business rights from Spanish firm Hive to its 200-megawatt solar power projects. Under the agreement, Hanwha will supply solar modules for the projects and will take charge of design and construction. Kowepo will finance the projects through equity investments and deliver funds from financial institutions.

“Based on its expertise and technology, proven in major countries, Hanwha Q cells aims to become a great partner to Kowepo. Hanwha Q Cells is ranked No. 1 in major solar module markets around the globe with its unrivaled technology,” Hanwha Q Cells President Kim Hee-chul said at the signing ceremony.

“It’s comforting to have Hanwha Q Cells as a partner ahead of overseas expansion. If both compensate each other with experiences and expertise, good results will be guaranteed in the global stage,” Korea Western Power President Kim Byung-sook said. 

By Kim Byung-wook (kbw@heraldcorp.com)