HANWHA Q CELLS Achieves New World Record in Multicrystalline Solar Module Efficiency

THALHEIM, Germany, June 20, 2016 /PRNewswire/ -- Hanwha Q CELLS Co., Ltd. ("Hanwha Q CELLS" or the "Company") (NASDAQ: HQCL), one of the world's largest photovoltaic manufacturers of high-quality, high-efficiency solar modules, has achieved a world-record-breaking multicrystalline solar module efficiency. The independent Fraunhofer ISE CalLab confirmed the record module efficiency rating of 19.5% in relation to the aperture area and a power output of 301 watts. The efficiency record has been published in the widely referenced Efficiency Tables of the renowned scientific journal "Progress in Photovoltaics: Research and Applications" in June 2016.

It is the first time in PV history that a multicrystalline solar module with a standard size of 1670 x 1000 mm² breaks the 300 watt barrier. The world-record module uses the company's proprietary Q.ANTUM technology based on rear side passivation of the solar cell and utilizing additional module technology features to optimize the efficiency and performance of PV cells and reduce the LCOE ("levelized cost of electricity") of solar energy. The latest world-record underlines Hanwha Q CELLS' technology leadership in advanced cell and module development.

Q.ANTUM TECHNOLOGY SETS THE BENCHMARK

The record breaking prototype contains high-efficiency multicrystalline Q.ANTUM solar cells with four bus bars produced on the pilot line of the company's Center for Technology Innovation and Quality in Thalheim, Germany. The cells and the module were produced with standard processes on industrial mass-scale production equipment. Base material for the high-efficiency Q.ANTUM solar cells are cost-efficient multicrystalline silicon wafers. The module size is equal to Hanwha Q CELLS' current 60 cell product lines (1670 x 1000 mm²) and it used the standard module components that are identical to what are currently being used in Company's mass-scale commercial production lines.

Jörg Müller, Director of R&D Cells at Hanwha Q CELLS said: "The industry has been trying hard to push the efficiency and power output of multicrystalline solar cells and modules. We have been extremely confident that the know-how and experience from inventing, developing and commercializing Q.ANTUM technology would give us the decisive competitive edge. Now we are very proud to be the first PV company to present a 19.5% solar module efficiency based on multicrystalline cells. Up until now, such values were only reached using monocrystalline silicon and complex processing."

Daniel Jeong, Head of Global R&D at Hanwha Q CELLS commented: "Hanwha Q CELLS produces Q.ANTUM-based high efficiency products in large scales from our state of the art international production facilities with a production track record of over 1.5 GW since 2012." He also added: "The new world-record prototype clearly points the way, as to where Q.ANTUM can bring performance and efficiency of commercial multicrystalline PV modules in the near future."

About Hanwha Q CELLS

Hanwha Q CELLS Co., Ltd. (NASDAQ:HQCL) is one of the world's largest and most recognized photovoltaic manufacturers for its high-quality, high-efficiency solar cells and modules. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ). With its diverse international manufacturing facilities in South Korea, Malaysia and China, Hanwha Q CELLS is in a unique position to flexibly address all global markets. Hanwha Q CELLS offers the full spectrum of photovoltaic products, applications and solutions, from modules to kits to systems to large scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, the company provides excellent services and long-term partnership to its customers in the utility, commercial, government and residential markets. Hanwha Q CELLS is a flagship company of Hanwha Group, a FORTUNE Global 500 firm and a Top 10 business enterprise in South Korea. For more information, visit: http://investors.hanwha-qcells.com/

Safe-Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Hanwha Q CELLS' operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Further information regarding these and other risks is included in Hanwha Q CELLS filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, Hanwha Q CELLS does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Hanwha Q CELLS Co., Ltd.