Hanwha Solution has started to secure low-carbon polysilicon from the U.S. to strengthen its competitiveness in the U.S. solar energy business.
If the Solar Energy Manufacturing for America Act (SEMA), a bill to foster the U.S. solar energy industry, is passed by the end of this year, it is also considering making additional investments across the solar value chain, including the expansion of module plants in the U.S.
Hanwha Solution announced on the 18th that it will acquire a 16.67% stake in "REC Silicon ASA,"a Norwegian listed company that operates two polysilicon plants in the U.S., for a total of 160.47 million dollars (about 190 billion won).
Polysilicon is a key material used to manufacture solar cells (cells). Hanwha Solution will secure the same stake as 'Aker Horizons', the largest shareholder.
With this investment, Hanwha Solution plans to take preemptive action in the U.S. market, where demand for solar energy is expected to surge in the future.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
