Hanwha SolarOne

Hanwha SolarOne represents a significant chapter in the strategic consolidation of Hanwha Group's global solar energy operations. The entity's story begins with the South Korean conglomerate's entry into the solar market through the acquisition of a 49.99% stake in the Chinese manufacturer Solarfun Power Holdings in 2010. This move was aimed at securing production capacity in the rapidly growing Chinese market. Subsequently, Solarfun was rebranded as Hanwha SolarOne in late 2010 to reflect its new ownership and strategic direction under the Hanwha umbrella.

The company operated as a manufacturer of photovoltaic (PV) modules, serving a diverse client base across utility, commercial, government, and residential sectors. Its business model involved selling cost-competitive, high-quality PV modules through a global network of third-party distributors, OEM manufacturers, and system integrators. Hanwha SolarOne also began establishing a secondary business line by investing in and developing solar projects, retaining them as assets. This vertically integrated approach, a hallmark of the broader Hanwha Group strategy, extended from polysilicon production to the development of large-scale solar power plants.

A pivotal milestone occurred in 2012 when the parent Hanwha Group acquired the German solar cell technology firm Q-Cells out of bankruptcy. This set the stage for a major consolidation. In December 2014, Hanwha announced a definitive agreement for Hanwha SolarOne to acquire Hanwha Q CELLS in an all-stock transaction. This merger, completed in February 2015, created the world's largest manufacturer of solar cells at the time. Following the acquisition, the combined entity was renamed Hanwha Q CELLS Co., Ltd., with its headquarters established in Seoul, South Korea. This strategic union was spearheaded by Kim Dong-kwan, the eldest son of the Hanwha Group chairman, who played a key role in integrating SolarOne's cost-efficient manufacturing with Q CELLS' advanced German engineering and R&D capabilities.

Keywords: Hanwha SolarOne, Hanwha Q CELLS, Solarfun, photovoltaic modules, solar cell manufacturing, solar panel supplier, renewable energy, Hanwha Group, PV modules, solar project development, utility-scale solar, commercial solar, residential solar, solar energy solutions, silicon wafer, photovoltaic technology, EPC services, solar power plants, clean energy, energy consolidation