Qcells to supply 2.5 GW of solar panels for Microsoft projects
- United States tech giant Microsoft Corp (NASDAQ: MSFT) has actually thrown its support behind the efforts of solar product manufacturer Qcells to establish a full solar supply chain in the US, with the companies teaming up on 2.5 GW of solar panel supplies.
According to a joint announcement on Wednesday, Qcells will collaborate with Microsoft to create solar projects as well as to provide panels and also engineering, procurement as well as building and construction (EPC) services to a few of the projects acquired by Microsoft under power purchase agreements (PPAs). The contemplated new generation capacity is anticipated to need at least 2.5 GW of panels.
This is a first-of-its kind collaboration where an energy off-taker is collaborating directly with a solar supplier, the firms claimed. Structure on its target of covering 100% of its power intake with renewable energy acquisitions by 2025, Microsoft wishes to support production of green energy devices in the regions it operates.
"Building a resistant solar power supply chain is necessary to advancing an international environment-friendly power economy. Microsoft's collaboration with Qcells will certainly help make this vision a fact by bringing innovation and financial investment to rural Georgia," claimed Microsoft vice chair as well as head of state Brad Smith.
Qcells, which is possessed by Seoul-based Hanwha Solutions Corp (KRX:009830), announced earlier in January it will be spending over USD 2.5 billion (EUR 2.3 bn) in the construction of a commercial complex for the manufacturing of solar ingots, wafers, cells and also modules in Bartow County, Georgia as well as an expansion of its Dalton plant. The company thus expects to have a photovoltaic panel production capacity in Georgia of 8.4 GW by the end of 2024.
The attractiveness of the United States as a location for clean energy investment has actually boosted complying with the passage of the Inflation Reduction Act as well as its climate provisions.
In addition to giving American-made solar products, Qcells has an aspiration to become a leading designer for solar and power storage space systems in the United States.
