The strategic alliance will bring community solar and energy storage to Massachusetts communities

NEW YORK - Feb. 8, 2024 - Onyx Renewable Partners L.P., a one-stop provider of clean energy and decarbonization solutions, and Qcells North America, a global leader in complete clean energy solutions, today announced plans to develop two community solar and battery projects in Massachusetts. The projects developed by Onyx have a total of 6.2 megawatts (MW) - 3.3 MW provided by Qcells - of solar and 5.5 megawatt-hours (MWh) of energy storage, all provided by Qcells.

The highly anticipated projects will strengthen local renewable energy capacity and give community subscribers access to clean energy without needing on-site solar. The two projects are expected to offset 3,900 tons of carbon dioxide per year the equivalent to powering approximately 700 homes, according to the U.S. Environmental Protection Agency (EPA). Together, Onyx and Qcells aim to set new standards for sustainability and environmental stewardship within the ISO New England (ISO-NE) region and beyond.

Onyx and Qcells' projects will showcase the effectiveness of combined solar and battery storage toward building a resilient, consistent and clean power supply. Deployed under the community solar and feed-in-tariff programs and sourced from local vendors, the two projects promote a responsible supply chain.

"Together with Qcells, we're forging a partnership to create cutting-edge solar and battery storage solutions for communities," said Angie Daoud, Chief Operating Officer of Onyx. "This collaboration solidifies Onyx's commitment to exceeding customer expectations by delivering premier quality products and services. United by our shared vision for a sustainable future, we're demonstrating that true success stems from lasting partnerships built on shared values."

"Qcells is thrilled to align with Onyx toward building a sustainable future," said Jin Han, Corporate Officer, Head of Distributed Energy at Qcells. "With Qcells' cutting-edge solar technology, energy storage hardware and Geli energy management system software, and Onyx Renewables' project development and execution expertise, our partnership will deliver reliable, cost-effective and sustainable energy solutions that benefit consumers, businesses and utilities alike. We have high hopes for our partnership with Onyx and our projects in Massachusetts are just the beginning."
The Massachusetts projects benefit from the state's SMART incentive program, an initiative designed to support the growth of solar power in the Commonwealth by providing incentives based on solar energy production. Additionally, both projects will participate in the state's Clean Peak Energy Standard (CPS), an initiative aimed at meeting high electricity demands with clean energy to create a more sustainable and reliable power grid.

Notably, both projects feature Qcells' DC-coupled battery storage technology and its end-to-end software solution, Geli Energy Management System (EMS), to optimize battery charging and discharging to comply with program requirements for SMART and CPS while maximizing the financial performance of the projects over the projects' terms, all while bringing clean, resilient benefits to the grid.
The Geli EMS uses the same machine learning algorithm to model the financial returns on projects as used in real-time battery operation, providing highly accurate and reliable project revenue projections from the start, to inform Qcells' partners' investment decisions. Qcells and Onyx will also deploy a risk-sharing partnership structure on the projects, leveraging Qcells' unique Grid Services offerings. This includes a revenue share agreement and Qcells' Network Operations Center (NOC) Services offering to mitigate risk on the long-term assets.

Onyx and Qcells look forward to expanding the partnership across the country, including projects in ISO-NE, California ISO, NYISO, and more, for both solar panels and energy storage systems.

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About Qcells
Qcells is one of the world's leading clean energy companies, recognized for its established reputation as a manufacturer of high-performance, high-quality solar cells and modules, portfolio of intelligent storage systems, and growing international pipeline of large-scale renewable energy projects. Qcells also provides renewable electricity retail services and packages to end customers the world over. The company is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, China, and South Korea. Qcells strives to offer Completely Clean Energy through the full spectrum of photovoltaic products, storage solutions, renewable electricity contracting and large-scale solar power plants. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. For more information, visit: http://us.qcells.com/.

About Onyx Renewable Partners L.P.

Onyx is helping companies create the bridge from today's clean energy reality to tomorrow's possibilities. Onyx's approach to providing clean energy solutions ensures expert guidance at every step for our commercial and industrial customers. From solar energy and storage to electric vehicle charging and beyond, Onyx partners with our clients from the beginning; our team focuses on creating a long-term relationship for the life of the asset. We design, develop, finance, construct, operate and maintain our projects and portfolios. Onyx leverages its wide-ranging industry expertise to transform energy and regulatory complexities into simple clean energy solutions to reduce carbon emissions and provide economic savings for our customers. For more information, visit www.onyxrenewables.com or connect with us on LinkedIn.