South Korea’s Hanwha Group plans to spend $2.5 billion to build a solar-manufacturing supply chain in Georgia, spurred by massive U.S. tax incentives
South Korea’s Hanwha Group plans to spend $2.5 billion to build an entirein Georgia, the biggest solar investment spurred so far by the massive tax incentives the U.S. introduced last year.
The investment would allow the conglomerate’s Qcells unit to build new facilities in the Atlanta region that would manufacture 3.3 gigawatts of solar panels a year, the company said Wednesday, enough to supply around 18% of the estimated U.S. demand in 2022. Qcells would also produce on-site nearly all the main components that go into the panels, including solar cells, ingots and wafers—items not currently manufactured in the U.S.
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S.Korea's Hanwha Q Cells to invest $2.5 bln total in U.S. solar manufacturingSouth Korea's Hanwha Solutions Corp said on Wednesday its unit Hanwha Q Cells will invest a total of $2.5 billion to build a solar power manufacturing value chain in the U.S. state of Georgia through June 2025.
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