Hanwha finishes higher after announcing solar project tie-up

Hanwha (HSOL +3.1%) has signed an MOU with Chinese investment firm HTR to target downstream (solar plant) opportunities within China, with the help of an existing JV involving HTR and a state-owned utility. (PR)

As part of the deal, Hanwha and HTR will create a JV to build solar plants, and HTR will either use Hanwha's modules or its engineering, procurement, and construction (EPC) services in 700MW worth of solar plant projects.

Much like their U.S. peers, Chinese solar module vendors are trying to grow their downstream exposure, given the business continues to carry much higher margins than cell/module sales.

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