Hanwha Q CELLS and POSCO Target Agri-Photovoltaics Market with Joint Development of Dedicated Modules and Structures

Approval Period Extended to 23 Years
Business Scope Expands to Financing, Construction, and Power Sales

With the approval period for agri-photovoltaic projects extended from 8 years to a maximum of 23 years, providing a foundation for market expansion, Hanwha Solutions Q CELLS Division (Hanwha Q CELLS) and POSCO are set to jointly develop modules and structures exclusively for agri-photovoltaics.

Hanwha Q CELLS and POSCO announced on the 21st that they had signed a memorandum of understanding (MOU) on the 17th to promote domestic agri-photovoltaics and establish a domestic industrial ecosystem.

Jaeyul Yoo, Head of Hanwha Q CELLS Korea Business Division (left), and Samsu Hong, Director of Cold Rolled Coating Marketing at POSCO, are taking a commemorative photo after signing a memorandum of understanding (MOU) on the 17th for the activation of domestic agrivoltaics and the creation of a domestic industrial ecosystem. Hanwha Solutions

Through this agreement, the two companies plan to jointly develop and supply a package of modules and supporting structures optimized for agri-photovoltaics. Going forward, they will form an alliance with domestic companies to provide integrated agri-photovoltaic solutions.

Agri-photovoltaics is a solution that enhances rural sustainability by combining agriculture and solar power generation. By optimizing the arrangement and angle of the modules, they provide the sunlight needed for crop cultivation while generating electricity from the remaining sunlight. It is considered a suitable solar power solution for Korea, which has relatively limited land area and a large proportion of sloping mountainous terrain.

Until now, domestic agri-photovoltaics had been promoted primarily through pilot projects. This was because, under the previous Farmland Act, solar installations—typically usable for over 30 years—had to be dismantled after just 8 years, making it difficult to achieve significant profits.

However, with the passage of the “Act on the Promotion and Support of Agri-Photovoltaic Generation Projects” at the National Assembly’s plenary session in May and its enactment and promulgation in June, the maximum approval period for agri-photovoltaic projects was extended from 8 years to 23 years.

Based on this agreement, the two companies plan to establish a “SintoBuli Alliance” to build a domestic agri-photovoltaic industrial ecosystem. Through this alliance, they aim to build a reliable domestic supply chain for farmers and connect the financing, equipment, construction, maintenance, and power sales necessary for agri-photovoltaic projects.

Hanwha Q CELLS will manufacture and supply high-efficiency agri-photovoltaic modules at its Jincheon factory in Chungbuk. Leveraging its solar business expertise and industry network, the company can offer stable construction and maintenance services. After plant completion, Hanwha Q CELLS also plans to provide power sales solutions, such as mediating power purchase agreements (PPAs) with renewable energy power consumers and supporting entry into the real-time bidding market.

POSCO will supply supporting structure materials that are highly resistant to soil corrosion and tailored to the domestic farming environment. Furthermore, by developing structures that protect crops and farmland without interfering with farming activities, POSCO plans to establish the standard for agri-photovoltaic structures suitable for Korea.

The two companies have also agreed to jointly develop packages of modules and structures dedicated to domestic agri-photovoltaic projects based on their respective business prowess.

Jaeyeol Yoo, Head of Hanwha Q CELLS Korea Business Unit, said, “Agri-photovoltaics is a win-win solution that can both expand renewable energy and enhance the sustainability of rural areas. In line with the government’s policy of increasing renewable energy, we will work with POSCO to foster a sound agri-photovoltaics market.”

Sangsoo Hong, Head of POSCO Cold Rolled Coating Marketing Office, said, “Agri-photovoltaics is designed so that the benefits go directly to farmers, preserving farmland and enabling continued farming while also expanding renewable energy. Building on our long-standing materials technology and business capabilities, we will work closely with Hanwha Q CELLS to develop structure solutions optimized for the domestic farming environment and help build a thriving industry ecosystem.”

This content was produced with the assistance of AI translation services.