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Hanwha Q CELLS Completes United States' First Solar Farm on a Superfund Site



April 9, 2014

Hanwha Q CELLS, an international solar developer, manufacturer and solutions provider, commemorated the historic completion of the first utility scale solar project constructed on an active EPA Superfund site. Hanwha Q CELLS was joined by project partners including the US EPA, Vertellus Specialties Inc., Indiana Department of Environmental Management, Indiana Power & Light (NYSE: AES), PNC Bank, August Mack Environmental Consulting, URS Corporation, US Utilities and Solar FlexRack.

The 10.86MWdc Maywood Solar Farm, located on 43 acres of the Reilly Tar & Chemical Superfund site in Indianapolis, was completed under the 2012 Indianapolis Power & Light (IPL) Rate-REP program. Of critical significance, the Maywood Solar Farm was fully realized without additional federal, state, local or corporate incentives and used conventional solar project financing. Construction commenced in July 2013 and was completed in March 2014, using high efficiency Q CELLS Q.PRO L polycrystalline modules, engineered by Hanwha Q CELLS in Germany. The Maywood Solar Farm will operate for up to 30 years and reduce CO2 emissions by more than 13,000 metric tons per year - equal to the annual carbon emissions of more than 2,700 passenger cars or 1,800 Indiana residential homes.

Hanwha Q CELLS' CEO Charles Kim remarked: 'The completion of the Maywood Superfund project is a significant milestone for Hanwha Q CELLS, but also for the solar industry as a whole in overcoming the legal, financial, regulatory and construction hurdles to create a virtuous cycle, and develop a higher use for brownfield, idle land. In completing a non-subsidized Superfund project, Hanwha Q CELLS has broken a barrier that has frustrated solar project developers for more than 20 years. We are looking forward to future, similar projects.'

Safeguarding project economics, Hanwha Q CELLS completed project construction at, or below, market costs - while managing additional site and environmental requirements. Hanwha Q CELLS employed an internally-developed and adaptive construction methodology in concert with US EPA to meet existing site environmental covenants. The proprietary Hanwha Q CELLS Soil Disturbance Minimization Plan resulted in a volume reduction of site soil movement of more than 93% over conventional construction approaches, while also minimizing the potential for exposing known underground hazards, impairing the existing site environmental remedy, or creating human exposure to site hazards.

'This innovative solar project demonstrates that Superfund sites can be redeveloped - to generate economic benefits for the local community and clean renewable energy for homes and businesses," said US EPA Regional Administrator Susan Hedman. "US EPA is proud to have played a role in the Maywood Solar Farm project, which has transformed a site with a long history of contamination into a source of renewable energy for the future."

About Hanwha Q CELLS

Hanwha Q CELLS is headquartered in Germany and one of the world's leading photovoltaics companies, offering a wide range of high quality photovoltaic products, solutions and services 'Engineered in Germany'. Next to its premium quality products from high-quality solar modules to systems and power plants the company also offers long-term partnership and financial stability being part of the South Korean Top-Ten business enterprise Hanwha Group. At its headquarters in Thalheim (Germany) Hanwha Q CELLS has a unique setup of R&D and production enabling the company to develop technologically leading products and innovative manufacturing methods. The cell production sites in Malaysia and Germany and the module production line in Germany are the core of manufacturing. In addition, the company converts its high-efficiency solar cells into modules in cooperation with certified contractors in Europe and Asia. Hanwha Q CELLS sells its products via its international sales network with branches in Germany (HQ), Malaysia, Korea, USA, Canada, Japan and Australia. Thanks to its truly international setup, high quality products and the financial stability, Hanwha Q CELLS is the reliable partner for PV customers around the globe. For more information, visit: www.q-cells.com.

About Hanwha Group

Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in South Korea with 51 domestic affiliates and 109 global networks in three major sectors: manufacturing and construction, finance, and services and leisure. With more than 60 years track record of industrial leadership, Hanwha's manufacturing and construction businesses encompass a broad range of fields from basic chemicals and advanced materials to property development and total solar energy solutions. The finance network, covering banking, insurance, asset management and securities, is the second largest non-bank finance group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses. For more information, visit: www.hanwha.com.

About PNC

PNC Bank, National Association is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC (www.pnc.com) is one of the United States' largest diversified financial services organizations, providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

For more information :

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Hanwha Group
www.hanwha.com

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