Hanwha Q Cells expands into photovoltaic module market in India

Hanwha Q Cells announced on Wednesday that the company has signed a contract with MSPL (Mahindra Susten Pvt. Ltd.), a renewable energy affiliate of Mahindra Group in India, to supply 141 megawatts photovoltaic modules. Hanwha Q Cells will leverage this deal to make a stronger push in the Indian market, which is a newly emerging photovoltaic battleground.

Hanwha Q Cells will provide Hanwha Solar’s “HSL72” model, which is manufactured in its production facilities in China. The company has been exporting “HSL72” to more than 30 countries around the world. Hanwha Q Cells’ photovoltaic modules will be used for photovoltaic projects in Gujarat, Tamil Nadu and Telangana states, and modules will be delivered from October through December.

“Hanwha Q Cells successfully signed a contract with Mahindra Group to provide photovoltaic modules. Mahindra Group claims the biggest market share of 10.4 percent in photovoltaic facility construction and design in India as of the second quarter in 2016. Therefore, the deal with Mahindra Group will be a step to solidify and strengthen Hanwha Q Cells’ market presence in India,” said Kim Maeng-yun, chief of the new market business department at Hanwha Q Cells.

Sung-Jin Park psjin@donga.com