Hanwha Solar Scores $574M Loan For China Projects

Law360, New York (December 2, 2013, 9:14 PM EST) -- Shanghai-based solar panel manufacturer Hanwha SolarOne Co. Ltd., a unit of the South Korean Hanwha Group, said Monday it has a deal in place to borrow 3.5 billion yuan ($574 million) from the Bank of Beijing Co. to increase its presence in China.

Hanwha SolarOne said it has arranged to access the credit over a period of three years. Specific drawdowns are subject to approval by the Bank of Beijing. Hanwha SolarOne said it currently has 250 megawatts of projects planned.

“We are pleased to have...
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