18 Jan 11 NewNet reported Hanwha SolarOne has inked a $500m investment to build the first phase of a new solar cell and module production facility in Jiangsu's Nantong development zone. Hanwha SolarOne was formerly known as 'Solarfun'.
The company will invest the capital over three years to build the facilities with 1 GW annual capacity during the first phase.
The Nantong economic development zone is just north of Hanwha SolarOne’s headquarters in Shanghai and also located close to the company’s manufacturing base in Qidong, Jiangsu.
Hanwha SolarOne has a strategic partnership with its largest shareholder Hanwha Group, which is active in solar project development and financing. Hanwha Group also plans to enter the polysilicon production market, according to Hanwha SolarOne.