Chrysalis Renewables LP, a global renewables investment platform established by US$30 billion global infrastructure manager, Morrison, has acquired the Atlas V and Atlas VI solar projects in the US. <\/p>\n
The transaction marks the first under the strategic partnership between Chrysalis and Hanwha Renewables LLC. <\/p>\n
Announced in February 2026, the partnership is designed to accelerate the deployment of high-quality, construction-ready, and operational renewable energy projects through a repeatable mergers and acquisitions framework. Chrysalis will acquire projects from Hanwha that meet aligned investment criteria, while leveraging Hanwha\u2019s integrated capabilities across development, engineering, procurement, and construction (EPC), module supply, asset management, and operations and maintenance (O&M). Atlas V and Atlas VI represent the first projects delivered under this model. <\/p>\n
Atlas V and VI have a combined capacity of approximately 357 MWdc and are in the final stages of commissioning. They form the first two stages of the multi-phase Atlas Energy Park development in La Paz, Arizona \u2013 one of the largest renewable energy developments in the US. The projects are expected to support domestic manufacturing, strengthen clean energy supply chains, enhance grid reliability, and reduce exposure to trade and tariff risks. <\/p>\n
Morrison Partner, Gordon Hay, responded: \u201cThe acquisition of the Atlas projects marks an important milestone for Chrysalis, increasing its generation capacity to approximately 700 MW while significantly expanding its regional footprint. The transaction also advances Chrysalis\u2019 portfolio diversification strategy by adding a generation profile that complements its existing assets. By combining Hanwha\u2019s strong project delivery capabilities with Chrysalis\u2019 disciplined investment approach, and Morrison\u2019s global expertise and resources, the partnership provides access to high-quality, de-risked renewable assets. We look forward to continuing our collaboration with Hanwha and pursuing attractive opportunities that will deliver long-term value for our investors.\u201d<\/p>\n
Rich Chung, Chief Investment Officer of Hanwha Renewables, added: \u201cThis transaction demonstrates the breadth and value of Hanwha\u2019s integrated renewable energy platform. Hanwha affiliates are supporting the full lifecycle of these assets \u2013 from development, EPC, and domestic module supply to asset management and long-term O&M. That integrated model is central to Hanwha\u2019s value proposition and increasingly differentiated in a market that demands supply chain certainty, construction capability, operating discipline, and alignment with long-term capital. We are proud to complete the first transaction under this framework and expect it to serve as a foundation for future collaboration with Chrysalis.\u201d <\/p>\n
The Atlas solar projects are contracted under 15-year \u2018busbar\u2019 power purchase agreements with Southern California Edison for supply into the California market (CAISO) and are expected to reach commercial operation in within the next few months. <\/p>\n
Both projects feature domestically produced solar modules supplied by Qcells, a subsidiary of Hanwha Group, from their Georgia manufacturing facility. Qcells is also providing EPC services, acting as a fully integrated delivery partner across the solar value chain. <\/p>\n
Under its partnership with Hanwha, Chrysalis will initially target more than 3.5 GW of solar and battery energy storage system (BESS) deployment in North America, with the potential to expand the asset portfolio and geographic reach, including to Japan, Australia, and Italy, over time. <\/p>\n
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