Microsoft and Qcells announce strategic alliance to curb carbon emissions and power the clean energy economy

Rhea-AI Summary

Qcells and Microsoft have announced a strategic partnership aimed at supplying over 2.5 gigawatts of solar panels and EPC services to solar developers. This collaboration emphasizes their joint commitment to diversifying the global energy supply chain and reducing carbon emissions. Microsoft seeks to power over 400,000 homes with renewable energy, aiming for 100% renewable electricity consumption by 2025. This partnership marks a significant move in the U.S. solar supply chain, as Qcells positions itself as a key player in delivering clean energy solutions, including domestic production of solar products.

Positive

• Partnership expected to supply over 2.5 gigawatts of solar panels, powering over 400,000 homes.
• Microsoft aims for 100% renewable electricity consumption by 2025.
• Qcells is the only U.S. company with a complete solar supply chain, aiding in local green energy production.

Negative

• None.

Qcells seeks to supply more than 2.5 gigawatts of solar panels and EPC services to solar project developers in partnership with Microsoft

The first-of-its-kind collaboration is rooted in the companies' collective commitments to diversify the global energy supply chain and reduce carbon emissions

SAN FRANCISCO, Jan. 25, 2023 /PRNewswire/ -- Qcells, a global solar leader investing in building a U.S. solar supply chain, and Microsoft Corp., a global technology company with a commitment to be carbon negative by 2030, are partnering to enable a strong supply chain for new renewable electricity capacity projected to require at least 2.5 gigawatts of solar panels and related services — equivalent to powering over 400,000 homes.

Qcells, owned by Hanwha Solutions headquartered in Seoul, will work with Microsoft to develop solar projects as well as provide panels and engineering, procurement and construction (EPC) services to selected solar projects Microsoft has contracted for through power purchase agreements (PPAs).

Microsoft has committed to purchasing renewable energy with a goal of achieving 100% coverage of electricity consumption with renewable energy by 2025. Microsoft is extending its sustainability activities to support domestic production of green energy equipment in the regions it operates globally. Microsoft is supporting Qcells' solar products, including those manufactured domestically, to bring more renewable energy to the grid. Qcells is the only company in the U.S. that will have a complete solar supply chain and provides one-stop clean energy solutions.

Addressing the growing need for a sustainable solar value chain

This alliance is the first time a company that procures energy is working directly with a solar supplier to adopt clean energy on a big scale. The new collaboration is rooted in the two companies' collective commitments to diversify the global energy supply chain, proactively lead the development of more reliable energy supply chains in the United States and abroad, and reduce carbon emissions.

"Building a resilient solar energy supply chain is essential to advancing a global green energy economy. Microsoft's partnership with Qcells will help make this vision a reality by bringing innovation and investment to rural Georgia," said Brad Smith, vice chair and president, Microsoft. "As one of the world's largest purchasers of renewable energy, this work will help bring more solar energy to the grid, faster." 

"We're striving to build and deliver turnkey clean energy solutions, including those made in America, and this partnership with Microsoft will help accomplish this vision," said Justin Lee, CEO of Qcells. "Similarly, Qcells is proud to play a role with Microsoft to bring more renewable energy online in the years to come. This first step is only the beginning of a great partnership that not only supports our two companies but helps deliver a clean energy future for customers and communities."

Growing need for American-made solar products is expected to accelerate Qcells' transition into a one-stop shop for clean energy solutions. Being the only company in the U.S. with a complete solar supply chain, Qcells intends to become a leading developer for solar and other clean energy solutions such as energy storage system. Combining its growing EPC expertise with smart energy management system, Qcells will continue to provide completely clean energy solutions and lead the global fight against climate change.

Microsoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

 

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SOURCE Microsoft Corp.

FAQ

What is the partnership between Qcells and Microsoft about?

The partnership focuses on supplying over 2.5 gigawatts of solar panels and EPC services to enhance the renewable energy supply chain.

How will this partnership impact Microsoft stock (MSFT)?

The partnership may positively influence Microsoft stock by aligning with its sustainability goals and expanding its renewable energy initiatives.

What are the goals of the Qcells and Microsoft collaboration?

Their goals include diversifying the energy supply chain and achieving 100% renewable electricity consumption by Microsoft by 2025.

How many homes will the solar panels power?

The solar panels are expected to power over 400,000 homes.

What is Qcells' strategy in the U.S. solar market?

Qcells aims to become a leading developer of solar and clean energy solutions, emphasizing domestic production and a complete solar supply chain.