Hanwha Q CELLS is selling two U.S. solar projects with 446 megawatts of combined capacity to KKR-owned ContourGlobal IPP, while maintaining its role in development and equipment supply.
The deal includes a 324MW facility in Colorado that started construction in July 2023, with completion expected in 2026. A second 122MW project in Virginia will begin construction in 2026 and finish the following year. Together, they’ll generate enough power for about 80,000 American homes.
The Korean solar manufacturer plans to supply modules and key equipment from its new manufacturing facility in Georgia, which the company touts as North America’s largest solar production base. This arrangement helps Hanwha Q CELLS maintain control over the supply chain while offloading project ownership.
Kim Ik-pyo, who heads the company’s Green Energy Solutions Division, says the sale validates their execution capabilities as an energy solutions provider.
For KKR’s ContourGlobal unit, which operates power projects globally, the acquisition expands its renewable energy portfolio in the U.S. market. The deal’s financial terms weren’t disclosed.
The projects are expected to produce approximately 845 gigawatt-hours of renewable energy annually once operational.
