Hanwha Solutions © Hanwha Solutions built this solar facility in Texas. Image provided by Hanwha SolutionsSEOUL, Jan. 30 (UPI) -- South Korean company Hanwha Solutions has announced a partnership with US technology giant Microsoft in the field of solar energy.
Under the agreement, which was announced Thursday, the companies will work on several solar projects to help Microsoft decarbonise by the end of the decade.
Hanwha Q Cell, a subsidiary of Hanwha Solutions, will supply at least 2.5 GW of solar panels and related services at selected Microsoft-contracted solar facilities.
According to Hanfa, the systems can power more than 400,000 homes.
“We are committed to developing and delivering turnkey green energy solutions in America, and this partnership with Microsoft will help realize that vision,” said Li Kuo Yang, CEO of Hanwha Qi Cell.
Microsoft President Brad Smith says building a sustainable solar energy supply chain is critical to the development of the global clean energy economy.
"Microsoft's partnership with Q Cell will help make this vision a reality by bringing innovation and investment to rural Georgia," he said in a statement.
“As one of the largest buyers of renewable energy in the world, this work will help bring more solar energy onto the grid faster.”
Earlier this month, Hanwha announced plans to invest $2.57 billion to expand its solar cell manufacturing capacity and build a new solar power component plant in Georgia.
Hanwa expects the US solar panel industry to grow by about 20% in line with the government's push to use cleaner energy sources and reduce carbon emissions.
Microsoft has committed to replacing its power systems with renewable energy by 2025 and achieving carbon neutrality by 2030.
Kang Dong-jin, an analyst at HMC Investment Securities, told UPI News Korea: “Data centers of big tech companies consume a lot of electricity. Therefore, they focus on renewable energy sources. More and more of these companies will join solar projects.”
“In Hanwha’s view, building a factory in the US is a big commitment. But the company will also get significant tax breaks for investments under the Advanced Manufacturing Credit Scheme.
New tax breaks for investments in the renewable energy sector were introduced in the US with the Inflation Reduction Act signed into law by US President Joe Biden last August.
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