Hanwha and Chrysalis Partner for Solar and Battery Storage Projects Worldwide

Hanwha Renewables and Chrysalis Renewables have entered into a strategic partnership aimed at accelerating the deployment of construction-ready and operational renewable energy projects across global markets.

Under the agreement, Chrysalis will acquire projects that are ready for construction or already operational through a repeatable mergers and acquisitions framework. The initial focus will be on more than 3.5 GW of solar and battery energy storage projects in North America, according to Hanwha Renewables.

The companies said the partnership is designed to streamline capital deployment and execution, enabling faster scaling of renewable energy capacity in priority markets.

Potential Expansion into New Markets

While North America is the immediate focus, the partnership could expand into additional regions over time. The companies identified Japan, Australia and Italy as potential future markets, reflecting a broader ambition to build a global renewable energy platform.

Gordon Hay, partner at Morrison, said, “Morrison’s collaboration with Hanwha is a significant step forward in the Chrysalis strategy: forging long-term partnerships with leading developers to access high-quality, de-risked renewable assets.”

Hay added, “By uniting Hanwha’s world-class project delivery with Chrysalis’s disciplined investment approach backed by Morrison’s expertise and resources, we are building an energy platform capable of delivering sustainable value and meaningful impact across key global energy markets.”

Hanwha said the partnership combines the EPC capabilities of Qcells EPC and its vertically integrated US solar manufacturing and project delivery platform with Morrison’s renewable energy investment experience and Chrysalis’s long-term ownership model.

Rich Chung, chief investment officer at Hanwha Renewables, said, “Together with Morrison and Chrysalis, we are building a platform that can serve as a model for how institutional capital and industrial capability can successfully work together to meet energy demand globally.”

The companies said the partnership is already progressing initial projects and complements Chrysalis’s existing collaboration with Innagreen, through which it has acquired renewable assets including wind projects in Canada.