Hanwha invests in solar energy production in U.S.

Budrigannews.com – Hanwha Q Cells, a division of Hanwha Solutions Corp. in South Korea, announced on Wednesday that it will invest $2.31 billion to establish a solar power manufacturing value chain in Georgia, Georgia, through June 2025.

Hanwha Solutions stated in a press conference that the company will increase its solar module production capacity in the United States from 1.7 gigawatts in 2022 to 8.4 gigawatts in 2024 as a result of the investment.

According to Hanwha Solutions, the substantial investment will effectively respond to the Inflation Reduction Act (IRA), which provides the government with tax credits and other forms of support for the renewable energy sector in response to climate change.

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