News Article
Martifer Solar, Hanwha Q CELLS Korea complete 17.8 MW project in Portugal
Martifer Solar, a subsidiary of Martifer SGPS, together with Hanwha Q CELLS Korea, has 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 consists of six PV plants constructed in Loures, Montijo and Montemor-o-Novo regions. Martifer Solar will be the operations and maintenance contractor of these six PV plants.
With an installed capacity between 2.2 and 6.7 MW 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.
Martifer Solar has now implemented close to 500 MW of solar energy worldwide, which includes 50 MW completed in Portugal.
