Martifer Solar and Hanwha Q Cells Korea Complete 17.8 MW PV Project In Portugal

Martifer Solar, a subsidiary of Martifer SGPS, together with Hanwha Q CELLS Korea, the Korean leading company in PV downstream area, completed a utility scale project for Korean investors, with combined capacity of 17.8MWp. The Korean investors include Hanwha Q CELLSKorea, which is also a consortium member, and the Financial Investment Trusts managed by Shinhan BNP Paribas Asset Management.

The PV cluster, consists of 6 PV plants constructed in Loures, Montijo and Montemor-o-Novo regions. Martifer Solar will be the operations and maintenance contractor to ensure the optimal generation levels of these 6 PV plants.

With an installed capacity between 2.2 and 6.7MWp each, these plants are built with more than 74,000Hanwha SolarOnemodules installed inground-mounted structures. The ‘green’ energy that will be produced by the entire cluster is estimated to sufficiently power over 24,800 inhabitants and to avoid the annual emission of 19,300 tons of greenhouse gases.

"As a part of our strategy to become the top player in the field of photovoltaic solar energy, Portugal was an attractive country to invest in, since Portugal has a tremendous amount of insolation. Although the financial environment was less than friendly, we aggressively exploited Portugal’s strength in the abundance of natural resources, and successively turned risks into profitable opportunities. Martifer Solar was and will be a valuable and reliable partner that helped us to realize these opportunities,” says Jiho Shin, Chief Operating Officer (COO) of Hanwha Q CELLS Korea.

With this project, Martifer Solar has already implemented close to 500 MW of solar energy worldwide, which includes 50MW completed in Portugal.