French energy giant Total and 174 Power Global, a unit of Hanwha Group, have formed a 50/50 joint venture (JV) to develop 12 utility-scale solar and energy storage projects of 1.6 GW cumulative capacity in the United States.
Transferred from 174 Power Global’s development pipeline, the JV projects are located in Texas, Nevada, Oregon, Wyoming, Virginia, and Hawaii. The first project started production in 2020, and the remainder are expected to go online between 2022 and 2024.
According to the partners, the JV builds on Total’s long-standing cooperation with the Hanwha Group and combines 174 Power Global’s development experience in the Unites States with Total’s decade-long international work.
“This transaction is a first significant step for Total in the U.S. utility-scale solar market, in line with our 2025 ambition to achieve 35 GW of renewables production capacity worldwide,” said Julien Pouget, Total’s director of renewables.
Hanwha Group is a South Korean business conglomerate that was founded in 1952 as Korea Explosives Co. The group has diversified to include retail and financial services.
174 Power Global was formed in 2017. In December it signed a seven-year dispatch rights agreement with ConEdison for the development of a 100 MW battery storage project, the East River Energy Storage System, in Astoria, Queens.
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