Hanwha Renewables and Chrysalis Form Strategic Partnership to Deploy 3.5GW of Solar and Storage Projects

Hanwha Renewables, LLC (Hanwha) and Chrysalis Renewables LP (Chrysalis) have announced a strategic partnership aimed at accelerating the global deployment of construction-ready and operational renewable energy projects.

Chrysalis, a renewables investment platform established by US$30 billion global infrastructure manager Morrison, will acquire projects from Hanwha under a repeatable mergers and acquisitions framework. The partnership will initially target more than 3.5GW of solar and battery energy storage system (BESS) projects across North America.

The companies indicated that the platform could expand over time to additional markets including Japan, Australia and Italy, broadening both the asset portfolio and geographic reach of the collaboration.

Institutional Capital Meets Industrial Capability

The partnership combines Hanwha’s vertically integrated development and delivery capabilities with Chrysalis’s long-term ownership model and Morrison’s three decades of experience in renewable energy investment.

Through its affiliate Qcells EPC, Hanwha has built one of the largest solar manufacturing footprints in the United States, supported by integrated project development, engineering, procurement and construction (EPC), and long-term operations capabilities.

Morrison Partner Gordon Hay said the collaboration reflects Chrysalis’s strategy of forming long-term partnerships with leading developers to access de-risked, high-quality renewable assets. He noted that the combined platform aims to deliver sustainable value across key global energy markets while creating growth opportunities for investors.

Hanwha Renewables Chief Investment Officer Rich Chung added that aligning capital and execution from the outset is critical to meeting the scale and pace of global energy demand. He said the evergreen framework underpinning the partnership would enable institutional capital and industrial expertise to work together in expanding renewable deployment.

Building a Diversified Renewable Portfolio

The Hanwha collaboration represents the second pillar of the Chrysalis portfolio. Chrysalis also maintains a partnership with Innagreen, an affiliate of Renewable Energy Systems Limited (RES), through which it has acquired renewable projects including the operational Hilda and Bekevar wind farms in Alberta and Saskatchewan, Canada.

Initial projects under the Hanwha–Chrysalis partnership are already progressing, with further announcements expected in the coming months as the companies advance their shared strategy to scale renewable generation capacity globally.