50MW Solar Module Scale · 200MWh ESS Capacity
CEO Iguyoung: "Active Cooperation with Global Big Tech Companies"
Hanwha Solutions Q CELLS Division (hereinafter Hanwha Q CELLS) announced on the 30th that it has completed and commenced commercial operation this month of a large-scale 'solar power and energy storage system (ESS) complex' supplying renewable energy to the US big tech company Meta.
Located in Borrego Springs, California, USA, this complex consists of a 50 MW solar module and a 200 MWh capacity ESS. The renewable energy generated here is supplied to Meta, one of the world's largest users of renewable energy. Since 2020, Meta has succeeded in meeting 100% of its electricity consumption with renewable energy, achieving carbon neutrality, and has declared a goal to achieve carbon neutrality across its supply chain by 2030.
Hanwha Q CELLS' solar power plant in California, USA, completed this month [Photo by Hanwha Q CELLS]
Riding the wave of renewable energy transition, Hanwha Q CELLS is expanding its renewable energy partnerships with global companies. Last month, it completed a 150 MW solar power plant in Wyoming, USA. Hanwha Q CELLS directly provided a turnkey solution for this project, including development, module supply, engineering, procurement, and construction (EPC), and power purchase agreement (PPA) signing. Prior to completion, in November last year, Hanwha Q CELLS maximized profitability by selling this power plant to the US power company Southern Power. Additionally, in January this year, Hanwha Q CELLS signed a contract with Microsoft USA to supply a total of 12 GW of solar modules and EPC services over eight years, continuing their cooperation.
Hanwha Q CELLS is also increasing its presence in the global ESS market, which is showing high growth driven by the energy transition trend. As renewable energy generation varies depending on climate, the demand for ESS installation is expected to increase significantly. ESS is an essential system for stable power grid management because it stores excess electricity when available and discharges it when needed.
According to Bloomberg New Energy Finance, the global ESS market is expected to grow from $11 billion (approximately 15 trillion KRW) in 2021 to $262 billion (approximately 359 trillion KRW) by 2030. Furthermore, the US Energy Information Administration (EIA) forecasts that the US ESS market will grow about 12 times from $692 million (approximately 950 billion KRW) in 2019 to $8.261 billion (approximately 11 trillion KRW) in 2025 over six years. In 2022, Hanwha Q CELLS secured large-scale performance and profits by selling seven ESS projects developed directly in the US. Among them, one 380 MWh ESS project was fully developed and executed through EPC by Hanwha Q CELLS.
Lee Gu-young, CEO of Hanwha Q CELLS, said, "Hanwha Q CELLS is expanding its capabilities in various fields such as project development, EPC, and power supply based on the largest solar manufacturing base in North America. We will become a differentiated integrated green energy solution partner for companies requiring renewable energy expansion, including global big tech companies with increasing power demand."
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