Hanwha Q CELLS Transfers 446MW Solar Projects to ContourGlobal

• Hanwha Q CELLS sells 446MW solar projects to ContourGlobal, ensuring continued oversight while powering 80,000 homes. A leap forward in renewable energy collaboration!

Hanwha Q CELLS has sold two large-scale solar projects in Colorado and Virginia, totaling 446MW, to ContourGlobal IPP, a subsidiary of KKR. Despite the sale, Hanwha will continue to manage development and EPC processes, along with supplying solar modules from its Solar Hub in Georgia, ensuring control over the projects' execution. The projects are anticipated to generate over 845GWh of renewable energy annually, enough to power about 80,000 U.S. households.

The Colorado plant, with a capacity of 324MW, is set for completion by 2026, while the 122MW Virginia plant is in the development stage, expected to be operational by 2027. Kim Ik-pyo of Hanwha Q CELLS highlighted the sale's importance, affirming their capabilities as an energy solutions provider and the company’s commitment to enhancing renewable energy collaboration with ContourGlobal.

How will Hanwha Q CELLS maintain project oversight after selling the solar projects?

To maintain project oversight after the sale of the solar projects, Hanwha Q CELLS will implement several strategies and practices:

• Ongoing Development Oversight: Hanwha Q CELLS will retain a supervisory role during the development phase, ensuring that the projects remain on schedule and meet all regulatory requirements.
• Strong Collaboration with ContourGlobal: The company will establish a collaborative framework with ContourGlobal, facilitating communication between teams to align on project milestones and objectives.
• EPC Management Expertise: Hanwha Q CELLS will leverage its expertise in Engineering, Procurement, and Construction (EPC) management to ensure that construction activities are carried out efficiently and to a high standard.
• Quality Control on Solar Module Supply: As the supplier of solar modules from their Solar Hub in Georgia, Hanwha will ensure strict quality control measures are in place, guaranteeing the performance and reliability of the installed technology.
• Regular Performance Monitoring: After the projects become operational, Hanwha Q CELLS will implement a system for ongoing performance tracking, assessing metrics such as energy output and efficiency to ensure optimal operation.
• Technical Support Services: Hanwha will provide continuous technical support and expertise to ContourGlobal to resolve any operational issues or enhancements throughout the lifecycle of the projects.
• Adherence to Sustainability Standards: The company will diligently oversee that all operational practices follow sustainability standards and best practices, reinforcing their commitment to environmental responsibility.
• Stakeholder Engagement: Hanwha Q CELLS will maintain relationships with local communities and stakeholders, ensuring transparency about project impacts and benefits while fostering local support.
• Training and Capacity Building: The company may offer training programs for ContourGlobal's staff, equipping them with the necessary skills and knowledge to effectively manage the solar projects post-sale.
• Feedback Mechanisms: Establishing feedback channels will allow Hanwha Q CELLS to receive input from ContourGlobal and other stakeholders, enabling continuous improvement and adaptation in project management practices.

By implementing these strategies, Hanwha Q CELLS aims to maintain a high level of oversight and control over the solar projects, ensuring their successful execution and operation following the sale.