Hanwha Qcells inks latest U.S. deal with SRE

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Hanwha Qcells inks latest U.S. deal with SRE

Published: 26 Jun. 2024, 09:54

Summit Ridge Energy’s Community Solar power plant in Illinois [HANWHA SOLUTION]

Hanwha Qcells, the Qcells division of Hanwha Solutions, has secured another large-scale contract in the United States.

It entered a partnership with Summit Ridge Energy (SRE), a U.S. commercial solar energy development company, to provide 2 gigawatts (GW) of solar energy modules and collaborate on an Energy Storage Systems (ESS) project by 2027.

This agreement expands upon the partnership announced by both companies for the provision of 1.2GW-sized modules during U.S. Vice President Kamala Harris’s visit to the Hanwha Qcells factory in Dalton in April of last year.

Since then the agreement has evolved, with SRE announcing plans to utilize the additional 800 megawatt (MW) modules in its Community Solar business, which is set to be initiated over 100 times across the United States.

Hanwha Qcells will supply modules produced at the Solar Hub, an advanced production base for solar batteries in North America, which is scheduled to begin full-scale operations next year.

Community Solar is a project in which members of the local community jointly fund the investment costs to construct a solar energy power plant, allowing them to earn communal profits.

Participation opportunities are open to lower-income groups who are often burdened by initial investment costs, highlighting the project’s potential as an equitable solution for renewable energy transition.

According to the Solar Energy Industries Association, a total of 5.8GW of Community Solar generating units had been installed by the first half of 2023.

The module provision contract signed between Hanwha Qcells and SRE is the largest partnership formed to date in relation to Community Solar.

The contract currently requires Hanwha Qcells to supply ESS materials and equipment to SRE, along with Energy Management System (EMS) software. Hanwha Qcells will manage procurement and supply as the preferred supplier for SRE’s ESS project and provide its proprietary EMS software solution.

Hanwha Qcells’ EMS will facilitate an effective operation of the ESS with sufficient insights into energy consumption patterns and fluctuations in electricity costs.

The company is expected to achieve a high level of performance, leveraging its consistent development and deployment of EMS software utilizing AI technology.

Hanwha Qcells CEO Lee Koo-yung said, “Hanwha Qcells has been recognized not only for its solar module manufacturing capabilities but also for its system development expertise, successfully securing hardware such as Battery Energy Storage Systems (BESS) as well as software solutions. Moving forward, we aim to enhance our competitive edge by providing comprehensive solutions that meet diverse customer demands and maximize business synergy.”

Hanwha Qcells is accelerating its business expansion in the United States by entering major contracts for equipment supply, project development and in the areas of engineering, procurement and construction (EPC).

In April, the company signed a “turn-key” contract totaling 450MW with True Green Capital Management (TGC), a specialized energy infrastructure private equity firm in the United States.

Under this agreement, Hanwha Qcells will supply modules for TGC's commercial solar projects and Community Solar projects, while its subsidiary, Enable, will handle the EPC responsibilities.

BY JEONG SEONWU [jeong.seonwu@joongang.co.kr]

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