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.

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