June 4, 2014 - Hanergy Solar Group today announces that Hanergy Global Solar Power & Applications Group and Sojitz Machinery Corporation signed a strategic cooperation framework memorandum. The two companies will build long-term strategic partnership to popularize solar thin-film power generation application in Japan and across the world. The partnership has planned to commence the construction of a solar power station with a power generation capacity of megawatts in Japan in 2014 which will adopt the copper indium gallium selenide (CIGS) solar cells produced by Hanergy Solar. In addition, the partnership will develop a thin-film electricity generation project with over 10MW in Japan which is scheduled to commence the construction work by March 2015.
According to the memorandum, the two companies will build a long-term strategic partnership to promote solar thin-film electricity application in Japan and the world. The scope of their cooperation will include thin-film power generation projects across the world and trading in the products of thin-film power generation applications. Specifically, Sojitz Machinery Corporation will assist Hanergy Global Solar Power & Applications Group in investing in and construction of large-scale thin-film power generation stations, large-scale rooftop power generation facilities and thin-film power generation carports.
Mr. Liu Min, Chairman and Chief Executive Officer of Hanergy Global Solar Power & Applications Group said, "Japan has always attached importance to energy conservation, and has made great achievements in photovoltaic application. Hanergy Solar, as the world's leading thin-film power generation enterprise, has achieved the conversion rate of 20.5% in its CIGS thin-film solar battery, which is breakthrough, following its three overseas acquisitions of technologies and its proprietary technological innovation. The strategic partnership with Sojitz Machinery Corporation will be able to further popularize the application of thin-film power generation technology in Japan and the world, thus promoting energy conservation and reducing pollution. It will also be conducive to the development of new-energy industry. We see this partnership as the beginning of our broader cooperation in thin-film power generation. I believe that Sojitz Machinery Corporation will become one of the largest sales channels for our CIGS solar cells."
Mr. Goto Seiro, Executive Director and Chief Representative of China of Sojitz Corporation, said, "Sojitz Corporation has over 100 years of trading history in China. During the era of former Chinese premier Mr. Zhou Enlai, Sojitz Corporation was appointed by the Chinese Government as the first friendly Japanese general trading company to participate in the country's important projects. The designation contributed to the relationship between China and Japan. Nowadays, Sojitz Corporation has over 10 offices in China, with over 50 joint ventures which lead the field in machinery, energy, metallurgy, chemicals and lifestyle industries. Japan has already developed solar photovoltaic power generation, and it now has four large-scale solar energy stations. Sojitz Corporation plans to build solar power stations with a capacity of megawatts in Japan and expand its presence in the overseas markets for solar photovoltaics."
Mr. Nakajima Kazuhiko, Chairman of Sojitz Machinery Corporation, said, "Our cooperation with Hanergy Solar is significant and lasting. On the basis of mutual trust, we will strive for success. We are looking forward to broader commercial cooperation with Hanergy Solar in the field of solar power."
According to the information of China Customs, about 24.63% of China's photovoltaic product exports were shipped to Japan in 2013. For the first two months in 2014, the proportion increased to 34.23%, making Japan the largest export destination for China's photovoltaic products. Japan and other Asian countries will become the target markets of the photovoltaic products companies. The cooperation between Hanergy Solar and Sojitz Corporation will be a growth driver for Hanergy Solar's global thin-film photovoltaics business.