Hanwha SolarOne gets $475M credit for PV projects

Hanwha SolarOne's downstream PV projects received US$475 million line of credit from the Bank of Beijing.

Jay SEO, Chief Financial Officer of Hanwha SolarOne said: “This new credit facility provides us with access to the additional financial resources necessary to manage and grow our business to exploit downstream project opportunities in China and abroad.”

The company noted that the subsequent drawdown of funds would be subject to approval procedures of the Bank of Beijing, based on specific PV project information.

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