Hanwha Q CELLS Launches Distributed Energy Business in Jeju

Hanwha Q CELLS-Jeju Energy Corporation, MOU for Infrastructure and Platform Development

Hwang Woo-hyun, President of Jeju Energy Corporation (left), and Lee Gu-young, CEO of Hanwha Q CELLS, are posing for a commemorative photo after the MOU signing ceremony held on the 9th at the Hanwha Building in Jung-gu, Seoul.

[Asia Economy Reporter Choi Dae-yeol] Hanwha Solutions Q CELLS division signed a memorandum of understanding (MOU) with Jeju Energy Corporation on the 9th to cooperate on distributed energy projects in Jeju Island. Distributed energy systems refer to a concept contrasting with the traditional centralized power supply system, meaning energy is produced and consumed near the area where it is used.

According to the MOU, the company will provide eco-friendly renewable energy stably to Jeju Island and operate the energy infrastructure. They agreed to jointly develop technology, distributed energy infrastructure, and a power operation platform to ensure stable energy supply. Lee Gu-young, CEO of Hanwha Q CELLS, said, "Starting with Jeju, we will create a precedent so that various local governments can activate distributed energy supply and operation."

If the Special Act on the Activation of Distributed Energy, proposed in July, is passed and Jeju is designated as a distributed energy special zone, businesses will be able to sell electricity directly to electricity users within the special zone. Power trading between sellers will also be possible.