Hanwha SolarOne Co., Ltd. (f/k/a Solarfun Power Holdings Co., Ltd., or "Hanwha SolarOne" or the "Company") (Nasdaq: SOLF), a vertically integrated manufacturer of silicon ingots, wafers and photovoltaic ("PV") cells and modules in China, today announced that it has signed an agreement with an MEMC Electronic Materials subsidiary to supply 54 MW of PV modules to its SunEdison affiliate in 2011 for use in its solar power plant projects. The agreement also includes an option for an additional 30 MW in 2011.
Dr. Peter Xie, President of Hanwha SolarOne, commented, "We are pleased that MEMC has again selected us as a supplier of PV modules for SunEdison projects. We first started delivering modules to SunEdison in 2010, and this new order marks a significant expansion in our relationship. SunEdison is a leading player in the global market and we are especially excited to be in close collaboration with such an established name on a high volume basis."
Bruce Ludemann, Vice President and General Manager of Hanwha SolarOne, North America, added, "The North American market is key to our long term success and SunEdison has helped us establish a respected presence in the U.S. and Canadian markets. We expect to build on our successes in 2010 and continue to be a key supplier and partner to SunEdison for many years to come. As a result of this project and others in our pipeline, we expect shipments to North America in 2011 to exceed 100 MW, which would double our volume from 2010."