Hanwha Qcells, POSCO partner on agrivoltaics

Hanwha Qcells and POSCO have joined forces to expand agrivoltaics in South Korea and develop a broader industry ecosystem.

Hanwha Qcells, the solar energy division of Hanwha Solutions, said Sunday that it signed a memorandum of understanding with POSCO on Sept. 17.

Agrivoltaics combines farming and solar power generation on the same land to support rural sustainability. Solar panels are arranged and angled to provide crops with sufficient sunlight while using the remaining solar energy to generate electricity.

The companies will jointly develop and supply packages combining solar modules and support structures optimized for agrivoltaic projects. They also plan to form an alliance of South Korean companies and develop integrated agrivoltaic solutions.

The planned “Shintoburi Alliance” will establish a cooperative network of domestic companies that farmers can trust. It aims to offer comprehensive services covering financing, equipment, construction and electricity sales.

Hanwha Qcells will manufacture high-efficiency modules designed for agrivoltaic installations at its plant in Jincheon, North Chungcheong Province.

After projects are completed, the company will also provide power sales solutions by brokering power purchase agreements with companies seeking renewable electricity or helping operators enter the real-time electricity bidding market.

POSCO will supply materials for support structures that resist soil corrosion and are tailored to South Korea’s agricultural environment.

“Agrivoltaics offers a dual benefit by expanding renewable energy while enhancing rural sustainability,” said Yoo Jae-yeol, head of Hanwha Qcells’ Korea Business Division.

“We will develop structural solutions suited to South Korea’s agricultural environment and contribute to building the industry ecosystem,” said Hong Sam-soo, head of POSCO’s Cold-Rolled and Coated Products Marketing Office.