Hanwha Q Cells to advance solar power biz in Middle East

Hanwha Q Cells Co., a solar power unit of South Korean conglomerate Hanwha Group, said Monday it will attend the World Future Energy Summit to gain a foothold in the promising renewable energy market of the Middle East against diminishing oil reserves.

The World Future Energy Summit (WFES) is the largest energy forum in the Middle East held annually in Abu Dhabi, United Arab Emirates. Hosted by Masdar, a UAE state-owned energy company, the event brings together policymakers, investors and various experts to discuss new solutions to the world’s growing energy challenges. Last year, the summit gathered more than 600 companies from 30 countries. It runs from Jan. 15 to 18.

Hanwha Q Cells, which also attended the WFES in 2017, doubled its exhibition space this year to present a wide range of offerings from residential solar modules and panels to civil and public engineering, procurement and construction arrangements.

The company said its participation in the summit is part of plans to tap into growing clean energy opportunities in the Middle East. Saudi Arabia has pledged to generate 10 percent of its energy from renewable sources by 2030. The UAE also plans to up its investment in renewables to boost its clean energy use starting with Dubai.

Hanwha Q Cells has been aiming to expand its global footprint, with Hanwha Group Chairman Kim Seung-youn calling for stronger market leadership during his recent visit to the company’s solar plant in Nantong, China.

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