Hanwha Energy Starts Building 236 MW Solar Plant in U.S.

Hanwha Q Cells will supply more than 680,000 monocrystalline modules for the plant, according to the officials while its US unit will take care of the engineering, procurement and construction of the facility.

Hanwha Energy Corp., a South Korean renewable energy company, has initiated construction work on a 236-MW solar power plant in the U.S. state of Texas, company officials said.

The 236-megawatt solar facility set to be completed in the state's Pecos County by later this year and will generate enough electricity to power more than 50,000 local households per year. The estimated cost of the project is about USD 260 million.

The sales of electricity will be handled through a 25-year contract with Austin Energy, officials said.

Hanwha Energy plans to borrow more than 80 percent of the money from local lenders to finance the project. The company said it plans to sell its stakes in the plant later to retrieve the cost.

Hanwha Q Cells will supply more than 680,000 monocrystalline modules for the plant, according to the officials while its US unit will take care of the engineering, procurement and construction of the facility.