WESTPORT, Conn., April 23,
2024 /PRNewswire/ -- 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 TGC's 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.
"We're 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.
About True Green Capital Management LLC
True Green Capital Management LLC ("TGC") is a specialized
renewable energy infrastructure private equity firm focused on the
U.S. and Europe. TGC is
headquartered in Westport,
Connecticut in the USA, and
maintains an office in London in
the United Kingdom as well.
The firm was founded in July 2011
and is led by a team of professionals with a proven track record
and a demonstrated capacity to originate, finance, construct, and
operate distributed renewable power generation projects.
To date, TGC has invested into a distributed solar power
generation portfolio across 16 U.S. states, the United Kingdom, and France. To learn more, visit
https://truegreencapital.com
About Qcells
Qcells is one of the world's leading clean energy companies,
recognized for its established reputation as a manufacturer of
high-performance, high-quality solar cells and modules, portfolio
of intelligent storage systems, and growing international pipeline
of large-scale renewable energy projects. Qcells also provides
renewable electricity retail services and packages to end customers
the world over. The company is headquartered in Seoul, South Korea (Global Executive HQ) and
Thalheim, Germany (Technology
& Innovation HQ) with its diverse international manufacturing
facilities in the U.S., Malaysia,
China, and South Korea. Qcells strives to offer
Completely Clean Energy through the full spectrum of photovoltaic
products, storage solutions, renewable electricity contracting and
large-scale solar power plants. Through its growing global business
network spanning Europe,
North America, Asia, South
America, Africa, and the
Middle East, Qcells provides
excellent services and long-term partnerships to its customers in
the utility, commercial, governmental, and residential markets. For
more information, visit: http://www.qcells.com/.
About Qcells Enable
Established in 2022, Qcells Enable is a full-service CCI EPC
company for solar projects in the United
States. Based in Teaneck,
NJ, the company brings technical savvy, a qualified
professional labor force, and an in-house engineering team allowing
it to efficiently serve the needs of its clients and deliver
results. We combine experience and expertise to offer
one-stop shop complete energy solutions, all backed by a FortuneĀ®
Global 500 company. Visit https://us.qcells.com/cic-epc to
learn more.
Contact: info@truegreencapital.com
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SOURCE True Green Capital Management LLC