Mr. Jay SEO, Chief Financial Officer of Hanwha SolarOne and head of Hanwha SolarOne's downstream business commented, "We are pleased to have established our relationship with China Huaneng Group, one of China's largest state-owned power companies and look forward to a growing relationship on other projects in the future." Mr. SEO added, "China is driving the development of PV solar projects throughout the country with new incentives and we are pleased to play a meaningful role in the country's efforts to expand solar power." Mr. SEO concluded by noting "the company has growing momentum in the China market including module supply, EPC projects, a new strategic partnership with Jiangsu Zhongtian, and intends to participate in projects as an IPP in the future."