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Chrysalis Renewables to Acquire Atlas V, Atlas VI US Solar Projects

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Chrysalis Renewables, an investment platform run by global infrastructure manager Morrison, will acquire Atlas V and Atlas VI solar projects in the US, the first such deal in a partnership between Chrysalis and Hanwha Renewables, it said Wednesday.

The partnership which was announced in February aims to accelerate deployment of construction-ready and operational renewables projects via M&A.

Chrysalis will buy the projects from Hanwha where they meet specified investment criteria and leverage Hanwha's integrated capabilities in terms of development, engineering, procurement and construction.

Atlas V and Atlas VI represent the first such two and have a combined capacity of 357 megawatts dc. In the final stages of commissioning, they form the first two stages of the multi-phase Atlas Energy Park development in La Paz, Arizona.

The projects, which use domestically-produced solar modules supplied by Qcells' Georgia manufacturing facility, a subsidiary of Hanwha Group, will support domestically-manufactured renewables, the statement said.

Through the partnership with Hanwha, Chrysalis will target more than 3.5 gigawatts of solar combined with battery energy storage in North America.

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