Hanwha Solutions said on the 21st that it recently sold about $130 million (about 200 billion won) of the advanced manufacturing production tax credit (AMPC) it received from the U.S. government last year.
AMPC is a program that provides a tax credit for solar products manufactured in the United States, and Hanwha Solutions manufactures solar modules at its Dalton and Cartersville plants in the United States and receives 7 cents in AMPC per watt (W).
AMPC can be received as subsidies or a tax credit, and in the United States a liquidity market has formed in which rights to receive AMPC are proactively bought and sold.
Hanwha Solutions received a total of 1.3 trillion won in AMPC from 2023 to 2025, sold 1.13 trillion won including this transaction, and is also in talks to sign contracts to sell the remaining 2025 AMPC by the first half of this year.
In the first quarter of this year as well, it received about 220 billion won in AMPC, and once the "Solar Hub," North America's largest integrated solar manufacturing complex now under construction, is completed within the year, annual AMPC receipts are expected to exceed 1 trillion won.
Hanwha Solutions said this AMPC securitization goes beyond simply securing cash early and shows that the tax credit generated at Hanwha Solutions' North American production bases is being recognized as having real asset value.
Going forward, the company plans to continue securing liquidity through early monetization of AMPC to quickly improve its financial structure. Lee Jaebein, Hanwha Solutions' head of finance, said, "We will continue to secure stable cash flow through AMPC securitization, keep improving our financial structure, and focus on solidifying our mid- to long-term growth foundation."