Hanwha Renewables, LLC and Morrison-backed Chrysalis Renewables LP have formed a strategic partnership to accelerate global renewable energy deployment. Chrysalis will acquire construction-ready and operational projects from Hanwha under a repeatable M&A framework, initially targeting over 3.5GW of solar and battery energy storage projects in North America, with potential expansion into Japan, Australia, and Italy.
PROJECT SNAPSHOT
| Field | Details |
|---|---|
| Companies Involved | Hanwha Renewables, LLC; Chrysalis Renewables LP (backed by Morrison & Co) |
| Target Capacity | 3.5 GW solar and BESS |
| Initial Focus Region | North America |
| Potential Expansion Markets | Japan, Australia, Italy |
| Transaction Model | Repeatable M&A framework |
US-based renewable energy developer, Hanwha Renewables, has entered into a strategic partnership with Chrysalis Renewables, an investment platform established by global infrastructure manager Morrison, to scale global deployment of construction-ready and operational renewable energy projects.
The collaboration is targeting more than 3.5 GW of solar and battery energy storage system (BESS) deployment, initially across North America.
Under the agreement, Chrysalis will acquire construction-ready and operational renewable energy assets developed by Hanwha through a structured, repeatable mergers and acquisitions framework. The model is designed around aligned investment parameters, enabling the transfer of de-risked solar and BESS projects into long-term ownership structures backed by institutional capital.
The initial deployment targets the United States and wider North American markets. The partners have outlined potential geographic expansion to Japan, Australia, and Italy, subject to project pipeline availability and investment parameters. The structure enables portfolio growth across multiple regions under defined acquisition criteria.
According to Hanwha Renewables, it operates with vertically integrated capabilities spanning project development, engineering, procurement and construction, and long-term operations. Hanwha, through its affiliate Qcells EPC, operates a substantial solar manufacturing platform in the United States, enabling the delivery of projects that are construction-ready or already operational.
Chrysalis applies a long-term ownership model supported by Morrison, which manages approximately US$30 billion in global infrastructure assets. Morrison’s experience in renewable energy investment, asset management, and capital structuring underpins the funding strategy of the platform. The partnership combines industrial-scale project delivery with institutional investment discipline to build a diversified portfolio of contracted renewable generation assets.
This transaction represents the second component of the Chrysalis portfolio strategy. Along with this partnership, Chrysalis has also collaborated with Innagreen, an affiliate of Renewable Energy Systems Limited, through which it acquired wind projects including the operational Hilda and Bekevar projects located in Alberta and Saskatchewan, Canada.
Initial projects under the Hanwha–Chrysalis platform are advancing, with further announcements expected as acquisitions progress.