Thursday, July 18, 2024

Hanwha Q CELLS and Summit Ridge Energy Signal Landmark Solar Partnership


Community solar power plant in Illinois, USA, developed by SRE.
Community solar energy plant in Illinois, USA, developed by SRE.

Hanwha Q CELLS has secured a major order within the United States, marking a significant milestone in its enlargement inside the renewable power sector. The firm just lately signed a partnership with Summit Ridge Energy (SRE) to produce 2GW of photo voltaic modules and collaborate on Energy Storage System (ESS) tasks by 2027. This settlement builds on a earlier 1.2GW module provide partnership that was introduced in April final 12 months throughout the go to of US Vice President Kamala Harris to the Dalton plant of Hanwha Q CELLS in Georgia.

SRE plans to make use of the extra 800MW modules for greater than 100 neighborhood photo voltaic tasks throughout the United States. These modules can be manufactured at Hanwha Q CELLS’ North American photo voltaic cell manufacturing hub, ‘Solar Hub,’ which is about to be absolutely operational subsequent 12 months. Community photo voltaic tasks permit members of a neighborhood to pool their investments to construct solar energy vegetation and share the income, making photo voltaic power extra accessible to individuals who may in any other case not have it. ‘y solution to set up photo voltaic panels on their very own properties.

The module provide contract between Hanwha Q CELLS and SRE is the most important neighborhood solar-related partnership ever signed within the United States. In addition to supplying photo voltaic modules, Hanwha Q CELLS will present SRE with ESS gear and superior Energy Management System (EMS) software program. The firm will act as the primary provider of ESS tasks led by SRE, providing procurement and provide companies, in addition to EMS options that leverage AI expertise to optimize power consumption and handle the fluctuation of electrical energy costs.

Hanwha Q CELLS CEO Lee Koo-yung highlighted the corporate’s complete capabilities, saying, “Hanwha Q CELLS is acknowledged not just for its photo voltaic manufacturing capabilities but in addition for its system improvement experience of this, securing built-in orders for {hardware} comparable to modules and BESS (Battery). ESS), in addition to software program We will proceed to develop extra complete options to satisfy the wants of many shoppers and maximize enterprise synergy results.

This partnership is a part of Hanwha Q CELLS’ broader technique to develop its enterprise scope within the US industrial photo voltaic market. Last April, the corporate signed a ‘turn-key’ contract totaling 450MW with True Green Capital Management (TGC), a personal fairness agency targeted on power infrastructure within the US. Under this settlement, Hanwha Q CELLS will present modules for TGC’s industrial photo voltaic and neighborhood photo voltaic tasks, whereas its subsidiary Enable will deal with Engineering, Procurement, and Construction (EPC) companies.

The collaboration between Hanwha Q CELLS and SRE is predicted to have important financial and social impression. Renewable power tasks like this create jobs, stimulate the native financial system, and cut back power prices. Additionally, neighborhood photo voltaic tasks promote power fairness by permitting broader participation in renewable power initiatives, particularly for low-income households.

The political endorsement of renewable power initiatives on the federal stage, highlighted by the go to of Vice President Kamala Harris, highlights the strategic significance of this partnership. As the US authorities continues to advertise renewable power by means of varied insurance policies and incentives, the demand for sustainable power options is predicted to develop, additional strengthening the position of corporations comparable to Hanwha Q CELLS within the renewable power panorama.

With the Solar Hub set to change into absolutely operational subsequent 12 months and the continued improvement of superior EMS software program, Hanwha Q CELLS is nicely positioned to satisfy the rising demand for built-in photo voltaic and ESS options. . The firm’s continued innovation and strategic partnerships are prone to drive additional development and success within the renewable power sector.

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