This utility scale solar PV cluster, inaugurated today, is located in the Lisbon, Setubal and Evora regions----- The consortium, consisting of Martifer Solar and Hanwha Q CELLS Korea, was responsible for the development, construction, connection and will be responsible for the operations & maintenance service----- The plants will produce sufficient green energy to power over 24,800 inhabitants and to avoid the annual emission of 19,300 tons of greenhouse gases
Martifer Solar, a subsidiary of Martifer SGPS, together with Hanwha Q CELLS Korea, the Korean leading company in PV downstream area, completed a utility scale project for Korean investors, with combined capacity of 17.8 MWp. The Korean investors include Hanwha Q CELLS Korea, which is also a consortium member, and the Financial Investment Trusts managed by Shinhan BNP Paribas Asset Management.
The PV cluster, which was inaugurated today, consists of six PV plants constructed in Loures, Montijo and Montemor-o-Novo regions. Martifer Solar will be the operations and maintenance contractor to ensure the optimal generation levels of these six PV plants.
With an installed capacity between 2.2 and 6.7 MWp each, these plants are built with more than 74,000 Hanwha SolarOne modules installed in ground-mounted structures. The green' energy that will be produced by the entire cluster is estimated to sufficiently power over 24,800 inhabitants and to avoid the annual emission of 19,300 tons of greenhouse gases.
"As a part of our strategy to become the top player in the field of photovoltaic solar energy, Portugal was an attractive country to invest in, since Portugal has a tremendous amount of insolation. Although the financial environment was less than friendly, we aggressively exploited Portugal's strength in the abundance of natural resources, and successively turned risks into profitable opportunities. Martifer Solar was and will be a valuable and reliable partner that helped us to realize these opportunities," says Jiho Shin, Chief Operating Officer (COO) of Hanwha Q CELLS Korea.
"Today, we have strengthened our commitment to Portugal. The completion of a project of this magnitude was only possible thanks to the great cooperation that we have built with all the governmental entities involved. We are very grateful to Hanwha, who has entrusted our company to develop this project. These kinds of partnerships will allow us to proceed in our current leading position in the PV sector," says Henrique Rodrigues, Chief Executive Officer (CEO) of Martifer Solar.
With the inauguration of this project, Martifer Solar has already implemented close to 500 MW of solar energy worldwide, which includes 50 MW completed in Portugal.
ABOUT MARTIFER SOLAR
Martifer Solar is present all over the world, focusing on Project Development, EPC, O&M and the distribution of PV modules and components, via its subsidiary MPrime.
The company is based in Portugal and has presence in Europe (Spain, Italy, Greece, Belgium, France, Czech Republic, Slovakia, United Kingdom, Germany, Romania and Ukraine), North and Latin America (United States, Canada, Mexico, Chile, Brazil and Ecuador), Africa (Cape Verde, Mozambique and South Africa) and Asia (India, United Arab Emirates, Singapore and Japan).
In 2012, Martifer Solar's revenues reached 230.8 million euros and, to date, the company has implemented more than 400 MW of photovoltaic solar energy worldwide.
Martifer Solar is part of the Martifer Group, a multinational industrial group with around 3,000 employees focused on metallic constructions and solar energy. Martifer SGPS, SA is the holding company of the Group and has been listed on Euronext Lisbon since June 2007.
LEARN MORE AT WWW.MARTIFERSOLAR.COM
ABOUT HANWHA Q CELLS KOREA
Hanwha Q CELLS Korea is the lead company for the downstream segment of Hanwha's global solar power business.
Founded in April 2011, the company aims to be a global leader in the field, delivering integrated solar power plant solutions encompassing development, construction, and operation.
Backed by a fully vertically-integrated solar value chain from polysilicon to power generation and the extensive financial expertise of the Hanwha Finance Network, the company is able to offer optimal solutions for any solar power plant project.
Active in solar generation projects in Korea, the United States, Europe, Asia, and other regions around the globe, the company is also involved in the project development field as it focuses on building a robust order pipeline. The company is also actively pursuing local partnerships and acquisitions to quickly establish itself as a major player in the global marketplace. By 2015, the company aims to secure a project pipeline of over 1 GW with annual project installations exceeding 100 MW.
LEARN MORE AT WWW.HANWHA.COM