ContourGlobal Scales up U.S. Renewables Presence With Acquisition of 446 MWp Solar PV Portfolio From Qcells
24.1.2025 11:29:00 CET | Business Wire | Press release
ContourGlobal has acquired from Qcells a portfolio of 446 MWp of solar PV projects in Colorado (WECC) and Virginia (PJM), secured with long-term high-value utility PPAsThe portfolio comprises two projects, one under construction and with near-term commercial operations, and another one in late development. Both projects have secured permits, grid connections, and procurement contracts.The projects will include solar modules manufactured at Qcells’ U.S.-based Dalton and Cartersville production facilities in Georgia. Qcells is also performing development, EPC, and O&M services as part of its total solutions provider capability.
ContourGlobal and Qcells have announced a strategic transaction for a U.S. solar PV portfolio located in Colorado and Virginia with an installed capacity of 446 MWp. This transaction expands ContourGlobal’s planned solar PV and BESS capacity in the United States to almost 1.5 GW, when combined with more than 1 GW of recently acquired projects in late development stage located in South Carolina and Arizona.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250122055737/en/
Antonio Cammisecra, CEO ContourGlobal (Photo: Business Wire)
Mr. Antonio Cammisecra, CEO of ContourGlobal, commented, “This transaction allows us to maintain momentum in our U.S. renewable growth, nearing 1.2 GW of solar PV capacity complemented with additional 0.3 GW of BESS capacity, in construction or late development. It also meaningfully accelerates the start of our commercial operations to the first half of this year. We are proud of this milestone and delighted that our partnership with Qcells will also enable us to integrate their U.S.-produced solar technology into these acquired projects.”
This latest portfolio, acquired from Qcells, is composed of two solar PV plants totalling 446 MWp and extends ContourGlobal’s renewable footprint in WECC (Western Electricity Coordinating Council) and PJM (Pennsylvania-New Jersey–Maryland) interconnection markets, providing regional diversification. The Colorado assets include 324 MWp already in construction, while the Virgina-located project of 122 MWp is expected to start construction in 2026.
Mr. IP Kim, Qcells GES President, said, “We are proud to support ContourGlobal’s US expansion. This transaction showcases Qcells’ differentiated capabilities as a ‘total energy solutions provider’ to bring projects from development into operations. We are excited to explore other opportunities where Qcells’ full suite of capabilities can deliver value to partners like ContourGlobal.”
The projects are located in attractive markets with growing demand load, paired with retirements of thermal capacity and carbon emission reduction targets at policy and corporate levels which provides opportunities for renewables development.
In particular, the Colorado assets will provide electricity to Platte River Power Authority (Platte River), a community-owned public power generation and transmission utility, under a long-term power purchase agreement. The first phase of the project, currently under construction in Northern Colorado, is a 185 MWp plant with commercial operation start estimated for the first half of 2025, and benefitting from a 22-year PPA. The second phase will bring an additional 139 MWp of capacity by 2026.
The Virgina 122 MWp project, is expected to start construction in 2026 and enter commercial operation in 2027, benefitting from a 20-year PPA with an investment grade investor-owned utility.
The total annual estimated production of the plants is more than 845 GWh, sufficient to power about 80,000 American households every year.
The agreement provides that Qcells will be responsible for the construction of the projects, which will include solar panels produced by the company at their Dalton and Cartersville facilities in Georgia. Qcells has one of the largest solar panel manufacturing facilities in the western hemisphere and, since 2019, its U.S. manufacturing capacity sits at 5.1 GW, and is expected to reach up to 8.4 GW.
Following this strategic acquisition, ContourGlobal’s total U.S. hybrid renewable capacity would reach approximately 1.5 GW - including approximately 1.2 GW of solar PV and 0.3 GW of BESS in all stages of maturity, from late development to construction. Notably, ContourGlobal also operates a 1.3 GW thermal portfolio spanning four states in the U.S.
CRC-IB served as exclusive buy-side advisor to ContourGlobal and Marathon Capital acted as exclusive financial advisor to Qcells for the transaction.
About ContourGlobal - ContourGlobal, a KKR Company, is an established Independent Power Producer (IPP) developing, acquiring and operating electricity generation and storage assets worldwide. Following the recently announced transactions, the company elevated its installed capacity under management, in late development or construction to around 7.8 GW. The footprint of the company now extends to 20 countries across Europe, Africa, Asia, North and South America. With a current share of renewables capacity of almost 50%, including capacity under construction or development, the company has committed to speed up the decarbonization of its portfolio with a sustainable transition of its thermal fleet, the repowering of existing renewable assets and the organic development of new renewable projects. ContourGlobal has gross pipeline of about 4.5 GW of development projects and a track record of 20 years of experience in partnering with communities, institutions and customers that benefit from its power supply through long-term contracts or innovative PPAs, coupled with energy management solutions.
About Qcells -Qcells USA provides complete utility-scale turnkey solutions through the entire project lifecycle from modules, solar and energy storage project development, and Engineering Procurement and Construction (EPC) services to the US utility-scale market. With a track record that includes 8.4 GW of sustainably produced module manufacturing capabilities in Georgia and nearly 2 GW of developed, constructed, and operating projects, Qcells USA is a dependable partner throughout the entire project lifecycle. Qcells USA is a flagship company of Hanwha Group, a FORTUNE Global 500 firm and a Top 7 business enterprise in South Korea. For more information, visit www.QcellsUSA.com and on LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250122055737/en/
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Klarna Card reaches 5 million active customers19.3.2026 15:31:00 CET | Press release
Klarna, the global digital bank and payments provider, today announced that the Klarna Card has reached 5 million active customers globally, underscoring rapid adoption as consumers shift towards new forms of payment which provide more control over day-to-day money management. The card draws from the customer's own funds for everyday spending, with the option to spread the cost of a specific purchase, like a large appliance or a flight, when it makes sense to do so. The result is a card that offers genuine spending control without the long-term debt obligations that come with traditional credit cards. The card’s growth is reinforced by Klarna’s membership program. The program offers premium perks such as airport lounge access, travel insurance, and lifestyle subscriptions — without requiring users to take on debt, meet spending thresholds, or revolve balances. By separating everyday spending from rewards, Klarna is challenging the strings-attached model legacy banks have long relied on
Stonebranch Releases 2026 Global State of IT Automation Report, Revealing Orchestration as the Missing Link for AI Adoption and Trust19.3.2026 14:30:00 CET | Press release
New research shows hybrid IT orchestration, automation-as-a-service, and WLA investments are accelerating as AI workflow deployment scales across the enterprise. Stonebranch, a leading provider of service orchestration and automation solutions, today released its annual 2026 Global State of IT Automation Report, the company’s most comprehensive research study to date. Based on responses from 402 IT automation professionals spanning C-suite executives to individual contributors across North America, EMEA, Latin America, and APAC, the report provides a detailed, data-driven portrait of how enterprises are investing in, deploying, and deriving value from IT automation in 2026. “This year’s findings highlight an important shift in how organizations approach automation,” said Giuseppe Damiani, CEO of Stonebranch. “Organizations are now building automation as strategic infrastructure — a governed, scalable foundation that spans hybrid environments, operationalizes AI, and delivers automation
Perma-Pipe Accelerates Growth with New U.S. Northeast Facility Investment to serve Artificial Intelligence Data Center customers, Provides Middle East Operations’ Update and Concludes the Board’s Review of Strategic Alternatives19.3.2026 14:00:00 CET | Press release
Perma-Pipe International Holdings, Inc. (the “Company”) today announced a strategic expansion initiative focused on accelerating growth through entry into the high-demand U.S. Northeast region. The Company is positioning itself to capitalize on the rapidly expanding Artificial Intelligence (“AI”)-driven data center market in both the United States and international markets while continuing to reinforce its leadership in critical infrastructure solutions. As part of this growth strategy, Perma-Pipe will prioritize investments aimed at expanding its presence in the rapidly evolving AI data center sector. The initiative reflects the Company’s long-term commitment to supporting next-generation technology infrastructure and strengthening its position in the global energy, industrial, and infrastructure markets. Expansion in the U.S. Northeast President & Chief Executive Officer, Saleh Sagr said, “We are excited to announce the expansion of our operations with a new facility in the Northeast
Armis Launches First-of-Its-Kind Benchmark Report Warning of Critical Security Gaps in AI-Native Development19.3.2026 13:00:00 CET | Press release
Research reveals 100% of leading generative AI models fail to generate secure code for critical development scenarios Armis, the cyber exposure management & security company, is warning that the rapid enterprise adoption of AI-native development is outpacing critical security safeguards, leaving organizations exposed to systemic vulnerabilities. New research from Armis Labs’ Trusted Vibing Benchmark Report, which evaluates 18 leading generative AI models across 31 test scenarios, reveals a 100% failure rate in generating secure code. These vulnerabilities are most prevalent in high-risk areas like memory buffer overflows, design file uploads and authentication systems. Therefore, organizations should immediately implement AI-native application security controls to reduce risk. “The era of vibe coding is here, but speed should not come at the cost of security,” said Nadir Izrael, CTO and Co-Founder of Armis. “Our research finds that the worst offenders are the same ones selling security
Morocco’s FRMF Welcomes CAF Appeal Board as Upholding Rules, Stability of International Competitions19.3.2026 12:53:00 CET | Press release
Following the announcement by the CAF Appeal Board, the Royal Moroccan Football Federation (FRMF) welcomes the decision, which reaffirms the primacy of competition regulations and reinforces the conditions necessary for the proper conduct of international tournaments. From the outset, following the incidents that led to the interruption of the match, the FRMF maintained a clear and consistent position: the strict application of the governing regulations. The Federation’s approach was solely guided by this principle. Following its appeal, CAF has now confirmed that the applicable regulations were not properly enforced. Throughout the process, the FRMF acted in full compliance with all relevant legal and procedural frameworks, with a constant focus on upholding its rights and preserving the integrity of the competition. This decision provides clarity on the applicable framework and strengthens the consistency and credibility of international competitions, particularly within African foot
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom