Hanergy signs US$130M solar roof tile contract with Japan’s Forest Group

Hanergy Thin Film Power Group announced that it has signed a prolific US$130 million HanTile presale contract with Japanese construction and solar power conglomerate, Forest Group with a total power generation of 100MW. The signing of the contract follows the string of positive news of Hanergy, which recently released its mid-term outstanding report with a 30 times surge in its net profit and confirmed its entry into Latin America market by securing US$4.3 millioncontracts with local partners.

The company’s fresh move reaffirms its earnestness to enter international market. This synergistic association with Forest Group is a testimony of Hanergy’s par excellence technology and its product quality reaching the highest standard of international market.

The contract that is signed between Hanergy Thin Film Power Group (0566.HK) and FGS, a subsidiary company focused on solar power business under Forest Group, intends to bring to use and put together the expertise and the rich sectorial experiences of both companies to optimize Japan’sphotovoltaic market. The association is aimed at harvesting at least 30% of Japan’s home photovoltaics market within 3 years.

Mori Haruyuki, President of Forest Group said, “We’re thrilled to work with Hanergy and utilize its expertise in thin film power sector to revolutionize Japan’s photovoltaic market. We have great confidence in Hanergy‘s products and we’re sure that we’ll together win accolades in the sector. Further, in the backdrop, we hope that within the next 5 to 10 years, Japan’shousehold market reaches the goal of zero emission, realising a great potential for solar power market.”

The current contract will prove to be a milestone for Hanergy’s HanTile product, leading its way in other international markets. Despite, Japanparticularly has strict certification system with dozens of testing and approval procedures, Hanergy’s acquisition of the presale contract further reiterates its high standard product quality and advanced technologies.

Lv Yuan, vice president of Hanergy Thin Film Power Group, said, “We’re pleased to join hands with Forest Group, marking an entry in Japanese market. At Hanergy, we make enormous efforts to stay ahead of our peers, be it through robust investment in R&D, the constant breakthroughs in technology, and numerous patent applications. It’s an upshot of these unremitting efforts, that we could swiftly secure the contract with the leading Forest Group in Japan. We see a great potential in Japanese market, which is also a strategic market for Hanergy.”

Subsequently, in March, 2018, Japanese government issued an energy strategic plan, proposing renewable energy as the “main source of power generation”. Japan’s Ministry of Economy, Trade and Industry (METI) this August also revised its energy development plan, in which a key factor is encouraging solar power usage. The government predicts by 2030 solar power could attribute to 7% within Japan’s energy mix, a great potential for photovoltaics market.

Currently, HanTile, Hanergy’s flagship solar roof tile solution product, has been on a presale campaign in around 20 countries worldwide after it was released this April. The product has received praises from the clients across nations and the feedback has been extraordinarily good.

It’s likely that the company will recently sign another 10,000 Humbrella sales contract also with a Japanese client. Humbrella is Hanergy’s latest thin film solar umbrella product.

Forest Group is a top Japanese construction and photovoltaics company, having businesses in America, Japan, Singapore, China and Sri Lanka. Its photovoltaics subsidiary, FGS, has an annual instalment capacity of 200MW, and owns professional teams providing design, construction and aftersales services for photovoltaics power station and household solar power generation in and out of Japan.

Since 2009, Hanergy is painstakingly working to integrate worldwide solar technology, and making robust investment for the research and innovation in field of thin-film solar power.

By now, Hanergy Thin Film Power Group has filed over 3,700 patents, among which 900 have been granted. Hanergy is all set to revolutionize the global mobile energy industry through its varied offerings equipped with advanced technologies.