Solarfun Power Holdings Co. Ltd. (SOLF)

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Hanwha SolarOne Signs Panel Supply Deal With MEMC’s SunEdison
By Ehren Goossens - Feb 11, 2011 10:46 PM GMT+0100

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Hanwha SolarOne Inc., a Shanghai- based solar product manufacturer, will supply MEMC Electronic Materials Inc. with 54 megawatts of panels this year.

The agreement includes an option for MEMC’s project development unit SunEdison LLC to purchase an additional 30 megawatts of solar panels, Hanwha said today in a statement.

SunEdison, based in Beltsville, Maryland, said Feb. 2 that it has agreements in place to install more than 1,400 megawatts of solar panels, doubling its pipeline of projects from 700 megawatts of projects a year ago.

Hanwha, which was previously known as Solarfun Power Holdings Co., will begin trading under a new ticker symbol, “HSOL,” on Feb. 15, the company said in a separate statement today.

Hanwha gained 28 cents, or 3.32 percent, to close at $8.79 a share in Nasdaq Stock Market composite trading.

To contact the reporter on this story: Ehren Goossens in New York at [e-mail]

To contact the editor responsible for this story: Reed Landberg at [e-mail]