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True Green Capital Management (TGC), a specialized renewable energy infrastructure private equity firm, announced today that it has signed a partnership agreement with Qcells, a global leader in complete clean energy solutions, to install up to 450 megawatts (MW) across commercial, community and industrial solar and grid projects throughout the U.S. This project will be led through Qcells Enable, the solar Engineering, Procurement and Construction (EPC) provider and a subsidiary of Qcells.
This transaction marks a significant milestone for TGC and Qcells signifying their respective continued commitment to building a complete and sustainable solar supply chain in the United States.
TGC is committed to increasing investment in U.S solar electricity projects. This partnership will enhance TGCs ability to invest in U.S solar electricity projects and will directly support residential, commercial, and industrial customers access to low cost, clean renewable energy.
Complementing these efforts, Qcells will provide complete turnkey EPC services combined with their, best in-class solar modules.
The solar modules will be supplied by Qcells fully integrated solar supply chain factory in Cartersville, Georgia. This is a part of the 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. These modules will utilize PV cells manufactured with polysilicon from REC Silicon, located in Moses Lake, WA. Hanwha Solutions, the holding company for Qcells, is the largest shareholder of REC Silicon as of April 2022.
"Were strengthening our collaboration with Qcells by expanding our partnership to include turn-key EPC services. This expansion grants us early access to the first fully integrated and transparent silicon-based solar supply chain from raw material to finished panel in the USA. This strategic move enables us to minimize offshore supply chain risks but also ensuring excellent project delivery," emphasized Panos Ninios, Managing Partner at TGC.
"We are very excited to have the opportunity to build these top-grade solar projects with a blue-chip client" said IP Kim, President of Qcells USA. "The partnership also recognizes the benefits of thinking strategically about our U.S. supply chain and the complete solar project lifecycle."
Qcells will continue to leverage our expanding supply chain to support partners like TGC with domestically produced products, accelerating the expansion of clean energy in America. |
