Hanwha Solutions Qcells Division is a complete energy solutions provider worldwide. With cutting-edge technology and excellent quality, we are leading the global solar industry by providing the midstream of cells and modules to downstream solar solutions through energy storage systems (ESS), power plants and energy retail. We operate manufacturing facilities in Malaysia, South Korea and the U.S. Our R&D headquarter is located in Thalheim, Germany and our R&D networks across Malaysia and South Korea collaborate to lead solar technology worldwide.
We are expanding cell and module plants at home and abroad. As of 2022, our annual cell production capacity is 10 GW and module production capacity is 12.4 GW. In the U.S., our large-scale expansion investments will result in a total module capacity of 8.4 GW by the end of 2023, giving us the largest capacity for silicon cell-based modules in North America. Electricity generated by that capacity will be able to power about 1.3 million homes for a year.
Our U.S. solar production line will utilize polysilicon sourced from REC Silicon, a Norway-based US clean polysilicon manufacturer acquired by Hanwha Solutions. Beginning in 2024, our new plant will be fully operational, making us the only company in North America with a complete five-stage value chain production line that spans polysilicon to finished modules.
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