To help combat the effects of climate change, Hanwha has long pursued the development of clean energy sources that can help power our future. Building on our global technology leadership, we are committed to creating an eco-friendly energy ecosystem, using our robust solar value chain, emerging hydrogen, and wind power, while using LNG to help ensure a secure energy transition.

Our solar power business uses sophisticated information technology to provide high value-added services and expand beyond cell and module production. In the arena of hydrogen energy, we are delving into research on carbon-free hydrogen production by using renewable energies, such as solar and wind power. As a key player in onshore and offshore wind power infrastructure in South Korea, Hanwha has embarked on a path toward global expansion, particularly in the US and Europe.Hanwha Qcells USA and Hanwha Solutions Q ENERGY Division are working together to grow their presence in the US offshore wind market, while Q ENERGY Division is actively pursuing renewable energy projects in Europe that would reach the scale of 12GW. By leveraging our cutting-edge technology in LNG carriers and offshore plants, we are expanding our LNG value chain to provide optimized energy solutions for LNG production, storage, transportation, and power generation.

Hanwha Solutions has become a global leader in the solar industry, known for its leading technology and excellence in quality. Our goal is to establish a complete solar value chain, spanning everything from solar cell and module production to ESS, power plant development, and retail energy as we grow our presence in major global markets. Ranked No. 1 in market share in both residential and commercial solar module markets in the US, we are now expanding our footprint worldwide. In January 2023, we made history by investing an unprecedented $2.5 billion in the US solar energy industry—the largest investment of its kind to date. With this investment, we have established production lines for our core solar value chain in North America.

Also in January, we forged a strategic partnership with Microsoft to create a global solar alliance. Working together, we are committed to accelerating the use of green energy and to reducing carbon emissions on a global scale. In South Korea, we are developing the largest floating solar power plants and utility-scale solar power plants in the country by utilizing sea salt farms. We believe such projects will not only revitalize local economies but also help to achieve carbon neutrality. Looking ahead, we plan to reinforce our position as a total energy solutions provider by leveraging our capabilities in solar power plant operations and management.

Hanwha is committed to developing green technologies. We are aggressively investing in green hydrogen as a clean energy source that can significantly help realize global carbon neutrality. By innovating comprehensive value chains, we are expanding into the hydrogen economy, from production and storage to delivery and utilization, including water electrolysis technology and more. Our hydrogen energy business is already being recognized around the world.

We have supplied hydrogen tanks to Shell, a global energy company, to support the company’s efforts in extending its hydrogen refueling network across California. With an optimal energy generation solution designed to support a carbon–neutral society, we are tapping into green hydrogen energy’s outstanding potential.

Hanwha is strengthening its competitiveness as a green infrastructure developer to spearhead the transition toward carbon neutrality.In 2020, Hanwha Corporation/Engineering & Construction further established its presence in the wind power business with the completion of the 76MW Yeongyang and 25MW Jeju Sumang wind farms in South Korea. In 2022, we effectively scaled our wind power business by securing a contract for the Yangyang Suri wind farm, which will generate 90MW of clean energy. To broaden our portfolio, we are overseeing development of the 400MW Shinan Ui offshore wind power project and conducting research for the development of several new offshore wind farms.

Hanwha a is committed to expanding our wind power infrastructure as we develop onshore and offshore projects with a total capacity of 2GW by 2030. At present, Hanwha Solutions Q ENERGY Division is constructing a 150MW wind farm in France, which will help accelerate the diversification of our business portfolio in Europe. Adding to this is Hanwha Ocean’s active pursuit of building wind turbine installation vessels (WTIV), with the aim of securing dominance in a rapidly growing market.

To advance the global energy transition and efforts toward carbon neutrality, Hanwha is helping bridge present-day energy gaps with our LNG and hydrogen co-firing solutions. These bridge technologies are expected to accelerate the transition to clean energy and play a critical role in combating climate change and creating a sustainable future. We are leveraging our advanced LNG-related technologies to build an integrated value chain that covers everything from production to storage, transportation, and power generation. In South Korea, we have formed partnerships in the public sector, with the aim of providing affordable electricity in Yeosu and Tongyeong. Overseas, starting in Vietnam, we will expand our business portfolio through the construction of LNG power plants and storage tank terminals.

In the field of hydrogen co-firing, Hanwha is working to secure global market dominance, using proprietary technology to power gas turbines and produce electricity. This technology will help bridge the gap for producers until carbon-free hydrogen fuel-based turbines are brought to market. By harnessing on our unique technology and commercialization capabilities, we have successfully entered the co-firing hydrogen gas turbine retrofit business in the US and Europe. In South Korea, we are expediting the commercialization of 50% co-firing hydrogen power generation for an 80MW or larger LNG gas turbine. With our commitment to continuous R&D, Hanwha will work to expedite the development of technology for 100% hydrogen-fueled clean power production.

Using our proprietary technology and experience, Hanwha Ocean is developing innovative green and digital technologies to help build a sustainable energy ecosystem that fully realizes the ocean’s vast potential. We have unrivaled technology and experience in building LNG carriers, which include fuel gas supply systems (FGSS) and partial regasification systems (PRS). We expect to solidify our global competitiveness in shipbuilding and offshore innovations as we develop eco-friendly vessels fully equipped with green ship solutions, such as high manganese steel tanks and rotor sails. As we successfully delivered the world’s first FLNG (Floating Liquefied Natural Gas) platform by capitalizing on our advanced facilities and platform development capabilities, we will continue to expand our horizons and create a new energy ecosystem through areas such as digital smart yards, smart ships, and building WTIVs (Wind Turbine Installation Vessels).

Hanwha is also promoting future business in fine and inorganic chemicals by upgrading its existing model and improving its fundamentals.Hanwha Corporation/Global continues to discover and create high value–added businesses that provide energy sources, including hydrogen and ammonia required to make eco–friendly energy and materials necessary for semiconductor and secondary battery processes.

By investing in REC Silicon, with US plants that produce special gas for semiconductor as well as polysilicon, we are expanding our business into high value–added core industrial materials.

One of the world’s most pressing priorities is to create and adopt an eco-friendly global circular economy that facilitates efficient and sustainable use of the Earth’s limited resources. Developing eco-friendly technology and high-value products is an important part of this. To address the issue of plastics, Hanwha is breathing new life into the material through our Plastics–to–Chemical (PTC) technology, which enables continuous recycling by extracting naphtha from waste plastics and reproducing them into basic raw materials through core catalysts and process technologies.

We will also continue our research into materials such as ECO–DEHCH, an eco-friendly premium plasticizer, as well as with research into biodegradable and bio-based plastics and carbon molecular sieves.