Qcells USA has closed a US$150 million revolving credit facility with BNP Paribas and Crédit Agricole CIB to support the buildout of a 13-gigawatt pipeline across the United States.
The projects include the Cunningham Energy Storage Project, a 190MW/380MWh facility which will be the largest project in the Electricity Reliability Council of Texas.
BNP Paribas Securities and Crédit Agricole CIB served as joint lead arrangers for the facility, with BNP also acting as sole administrative agent. The financing marks Qcells' first such facility with BNPP and Crédit Agricole CIB.
Qcells USA is part of South Korea’s Hanwha Group. Qcells Co, one of the world's largest and most recognized photovoltaic manufacturers, is headquartered in Seoul (global executive HQ) and Thalheim, Germany (technology and innovation HQ).
Qcells USA develops, invests, and delivers photovoltaic and energy storage system projects through development and engineering, procurement, and construction (EPC) solutions in North America.