Lydian acquires 1.5 GW solar-plus-storage portfolio from Hanwha Solutions

Lydian completed the acquisition of a 1.5 GW solar-plus-storage portfolio from Hanwha Solutions, marking one of the largest renewable energy transactions in the U.S. market. The portfolio includes multiple projects across the United States, combining solar photovoltaic capacity with battery energy storage systems to enhance grid stability and renewable energy integration. Hanwha Solutions, a subsidiary of Hanwha Group, divested the assets as part of its strategic focus on core chemical and energy businesses. Lydian, a renewable energy developer and investor, expands its operational footprint with this acquisition, targeting utility-scale clean energy deployment. The transaction underscores the growing demand for hybrid renewable projects that pair solar with storage to meet decarbonization and grid reliability goals. Financial terms of the deal were not disclosed in the announcement.

Counterparts (2)

Seller

Hanwha Solutions

company · 2 deals

Hanwha Solutions, a South Korean industrial leader, generated KRW 12.8 trillion in 2023 revenue, specializing in petrochemicals, advanced materials, and global solar energy solutions via its Hanwha Qcells division, which develops and manufactures solar PV modules and projects across North America, Europe, and Asia.

Buyer

Lydian

company · 1 deals

Washington DC-based renewable energy developer and operator specializing in utility-scale solar and battery storage projects across the United States, with a 3.6 GW pipeline.