On Wednesday, shares of Hanwha Solutions and OCI Holdings rose significantly as investors reacted to the likelihood that U.S. restrictions on Chinese solar products would remain in place during the upcoming Trump-Xi summit.
Analyst Yoon Jae-sung from Hana Securities noted that the U.S. government views solar energy as a strategic industry linked to national security, making it improbable for any easing of restrictions to occur. He emphasized that any tariff discussions would likely focus on non-strategic goods, reinforcing the importance of building a domestic supply chain for solar products.
The recent stock price increase followed a statement from Hanwha Solutions' solar unit Qcells, which welcomed U.S. measures aimed at preventing illegal stockpiling of imported solar panels. Qcells, which has invested $2.5 billion in expanding its manufacturing in Georgia, argued that these measures would protect American manufacturers from being undermined by foreign competition.
OCI Holdings also has a notable presence in the U.S. market, with its subsidiary OCI Energy recently starting construction on a new solar facility in Texas. This context underscores the growing significance of solar energy in both national security and economic strategy for the U.S