Hanwha Solutions' Qcells Division (Hanwha Qcells), a global leader in complete clean energy solutions, has partnered with True Green Capital Management (TGC), a specialized renewable energy infrastructure private equity firm in the United States.
This secures the company another large-scale contract to supply 450 megawatts (MW) of solar power across the U.S. commercial solar energy market.
While Hanwha Qcells will provide the modules, Qcells Enable, the solar EPC provider and a subsidiary of Hanwha Qcells, will offer complete turnkey EPC services from 2024 to 2025.
'Our business strategy of expanding into areas beyond the manufacturing industry has resulted in a series of achievements,' said Justin Lee, CEO of Hanwha Qcells. 'With competitive technological capabilities, abundant experience, and know-how in the renewable energy business, we will secure stable sales by seizing business opportunities and accelerating business growth.'
Hanwha Qcells, owner of the largest silicon module mass production capacity in North America, has recently expanded the scope of its business portfolio across the solar value chain. To actively seek opportunities in the commercial EPC business, Hanwha Qcells established its subsidiary, Enable, in 2022, signifying the company's commitment to building a complete solar supply chain. With this contract, Enable has achieved more than $100 million in EPC contract orders and established a presence in the U.S. for the next two years.
TGC is committed to advancing both commercial solar projects, utilizing untapped and unused spaces across the country, such as parking lots or rooftops of buildings and factories, and community solar projects in the U.S. Community solar projects make solar options more accessible, typically involving local residents pooling investment funds to collectively build solar energy systems to earn profits, allowing even those with limited financial means to participate.
The solar modules for the TGC agreement will be supplied by Hanwha Qcells' fully integrated solar supply chain factory in Cartersville, Georgia. This is a part of Hanwha Qcells' $2.5 billion U.S. investment announced in 2023 that will manufacture 3.3 gigawatts (GW) of solar ingots, wafers, cells, and finished panels, respectively.
This project with TGC marks another large-scale contract in the U.S., building on its successful partnership with Microsoft signed last January. Hanwha Qcells has previously demonstrated its competitive edge in the solar EPC field by signing a partnership with Microsoft to supply up to 12 gigawatts (GW) of solar modules and EPC services over eight years to projects Microsoft has contracted through 2032.
Beyond EPC services, the company also strengthened its efforts to diversify its business structure, including the launch of a financing business tailored for residential solar customers in the U.S. in 2023.
Hanwha Solutions
Hanwha Solutions aims to deliver sustainable solutions for the planet through smart energy solutions and customer-focused materials. The company operates its business through three divisions: Qcells, Chemical, and Insight. The Qcells Division offers total energy solutions from photovoltaic module manufacturing, power plant operation to electricity retailing service. Long recognized as a prominent leader in the chemicals industry, the Chemical Division is growing into a global green energy materials company with its cutting-edge solutions for eco-friendly materials. The Insight Division is providing differentiated solutions through comprehensive development and financing for projects such as cities, smart green industrial complexes, renewable energy, premium real estate and premium content. With its innovative technologies for sustainable growth, Hanwha Solutions strives to become a global leader in bringing a better future for humanity.
Hanwha Qcells
Hanwha Qcells (Hanwha Solutions Qcells division) is one of the world's leading clean energy companies, recognized for its established reputation as a manufacturer of high-performance, high-quality solar cells, and modules, a portfolio of intelligent storage systems, and a growing international pipeline of large-scale renewable energy projects. Hanwha Qcells also provides renewable electricity retail services and packages to end customers the world over. The company is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, China, and South Korea. Hanwha Qcells strives to offer Completely Clean Energy through the full spectrum of photovoltaic products, storage solutions, renewable electricity contracting, and large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa, and the Middle East, Hanwha Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental, and residential markets.
HANWHA SOLUTIONS CORPORATION 
