Hanwha expects its business in Portugal -- as are the cases with other European countries – is to be promising as it increasingly relies on renewable energies like solar, wind and water power. 

Seoul, KOREA ¶ May 12, 2012 -- Hanwha group, one of Korea’s top 10 business groups, is to enter the global solar market in full force as it has inked a series of contracts in major markets where needs of renewable energy are soaring. And for its move to take the lead in clean energy provider, Hanwha Solar, the group's flagship business specializing in photovoltaic (PV) solar solutions, has been quite active of late.

The group announced on May 11 that it has recently formed a consortium with Martifier Solar, a Portuguese photovoltaic energy firm, to build a 17.6-megawatt solar power plant in Lisbon. Hanwha expects its business in Portugal -- as are the cases with other European countries – is to be promising as it increasingly relies on renewable energies like solar, wind and water power. Hanwha SolarEnergy is said to have secured an undisclosed amount of financing for the project from the Korea-based Shinhan BNPP Global Infrastructure Fund.