POSCO Daewoo to Export 30MW Solar Panel Modules to the U.S

NEWSROOM

POSCO Daewoo is furthering their position in the renewable energy field, supplying Hyundai Heavy Industries’ solar panel modules to American companies.

Osgood Solar and other American solar energy firms at Intersolar North America, the energy-related trade fair, held in San Francisco on July 15. The contract is valued at approximately USD 17 million (KRW 20 billion).

Under the agreement, POSCO Daewoo will supply solar panel modules produced by Hyundai Heavy Industries (HHI), for installment on general houses and skyscrapers across the U.S.

The global business network and financing capability of POSCO Daewoo, together with HHIs diverse array of manufacturing technologies, have been the driving force behind the success of this contract.

As interest in eco-friendly energy increases globally, the demand for solar panel modules is steadily rising. POSCO Daewoo is utilizing its abilities on building a value chain of its solar power business by carrying out various projects for related materials, ranging from raw material for the solar panel modules (such as polysilicon), intermediary materials (cells), to the finished products.

POSCO Daewoo has focused on landing new business partners through local subsidiaries, which they think have been the main factor in beating lower-priced and leading competitors. The company hopes to participate in future projects with American solar power firms as well.

Since 2010, POSCO Daewoo has been running its renewable energy division and is seeking to emerge as a forerunner in the area of sustainable energy trade both intra- and inter-nationally.

 

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