The Largest ESS Project Sale Contract for Hanwha
Hanwha Q CELLS announced on Dec. 14 that it has signed a contract to sell a total of seven energy storage system (ESS) projects under development in Texas of the United States.
The combined power storage capacity of the seven ESS projects is 2.4GWh, which is equivalent to power used by about 1 million people in a day in Korea. This contract is the largest in terms of transaction value among energy project sales made by Hanwha Q CELLS.
The projects to be sold are the 380MWh Cunningham ESS project, which is in the final stage of construction, and six ESS projects under development.
The acquirer, Acciona, a Spanish renewable energy development and independent power plant (IPP) company, will directly operate the ESS complexes once the remaining development and construction work is completed. The completion dates for the complexes are different from the first quarter of 2023 to 2025. Hanwha Q CELLS is discussing EPC contracts on the six projects under development.