Cunningham Energy Storage Project

Qcells closes Sale of Largest Texas Battery Storage Project with ACCIONA Energía

Qcells USA, the leader in completely clean energy solutions, has closed the sale of its Cunningham Energy Storage project in Texas with ACCIONA Energía.

Summary: Qcells USA closes the sale of its Cunningham Energy Storage project in Texas with ACCIONA Energía. This sale highlights the aggressive growth and strength of Qcells USA as the leader in bringing completely clean energy solutions.

TEXAS, December 13th, 2022 – Qcells USA Corp. (Qcells USA) announced the sale of the Cunningham Energy Storage project to ACCIONA Energía.

The 190MW/380MWh facility will be the largest energy storage project in ERCOT when commissioned in early 2023. The transaction also includes six additional projects at an advanced development stage.

ACCIONA Energía is an operator of utility-scale 100% renewable energy systems with a portfolio of 11.4GW operating assets worldwide.

This transaction highlights what Qcells USA can offer customers and communities. From manufacturing solar equipment, to development and construction, Qcells is a one-stop shop for clean energy, making it easy for its partners to get solar and storage online.

Vitaly Lee, Chief Development Officer of Qcells USA Corp, said: “The Cunningham project is the testament to Qcells’ ability to transact effectively and efficiently with our development partners, making acquisitions from them in different stages of the project lifecycle, pairing it up with our system integration, financing and EPC capabilities and creating value for all parties involved.”

Jae Kyu Lee, President of Qcells USA Corp, said: “Qcells is proud to provide our unique development and EPC solutions to ACCIONA Energía to bring this project to life, while also looking forward to furthering our collaboration as part of a long-term partnership. We are confident that these projects will benefit the entire energy sector in Texas by making clean, reliable energy more accessible for everyone.”

Rafael Mateo, CEO of ACCIONA Energía, said: “We have been working on battery storage for more than 10 years and we see the technology is now ready for commercial deployment and to be included in our growth strategy. This transaction is an important milestone, as it includes the biggest BESS utility scale project in one of the world’s most developed BESS markets. With 1,214MW renewable capacity operating and under construction in Texas, this deal is a good opportunity for ACCIONA Energía to strengthen our presence and optimize the risk profile of our portfolio”, he concluded.

This achievement will be closely followed by many more as Qcells USA continues to expand its development pipeline and EPC footprint across the U.S.

Qcells USA is the leading vertically integrated company in the solar and energy storage industry. Combining solar & energy storage development, EPC, and solar modules in a rapid and expanding pipeline throughout the U.S.

About ACCIONA Energía

ACCIONA Energía is the largest 100% renewable energy company with no fossil legacy in the world. It has 11.4GW of renewable energy and commercial operations in 30 countries. With 30 years of experience, ACCIONA Energía offers a complete portfolio of tailor-made energy solutions for its corporate and institutional clients to meet their decarbonization goals. ACCIONA Energía is committed to the highest environmental, social and corporate governance (ESG) standards. ACCIONA S.A., a leading global company in the provision of regenerative solutions for a decarbonized economy, is the reference shareholder of ACCIONA Energía.

In the United States, ACCCIONA Energía already operates more than 1GW of wind and concentrating solar power. The company also has a portfolio of four photovoltaic solar plants under construction: Fort Bend Solar (316 MWdc), Red-Tailed Hawk Solar (460 MWdc), High Point Solar (127 MWdc) and Union County Solar (415 MWdc).

About Qcells USA

Qcells USA Corp. develops, invests, and delivers photovoltaic (PV) and energy storage system (ESS) projects through Development and Engineering, Procurement, and Construction (EPC) solutions in North America. The company brings a decade of global leadership in solar PV to deliver utility-scale power generation plants customized for local and regional energy markets.

It is an affiliate of Qcells Co., Ltd., one of the world’s largest and most recognized photovoltaic manufacturers for its high-performance, high-quality solar modules. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ). Qcells USA is a flagship company of Hanwha Group, a FORTUNE Global 500 firm, and a Top 7 business enterprise in South Korea. Qcells USA offers the full spectrum of PV solutions from the core technology of modules to utility-scale project development and investment. For more information, visit www.QcellsUSA.com and on LinkedIn.

Safe-Harbor Statement

This press release contains forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and Qcells’ operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Except as required by law, QCELLS does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Qcells USA Corp., Media Representative
E-mail: nick.centera@qcells.com
Phone: 619-750-5712

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