Houston, TX – January 1, 2026 – Hanwha Energy USA Holdings (HEUH) today announced the formation of a single, unified development platform through the alignment of 174 Power Global (174PG) and Hanwha Renewables (HWR), operating under the Hanwha Renewables brand. The newly formed organization is purpose-built to scale solar PV and battery energy storage (BESS) development across the United States.

The formation brings together two development teams with demonstrated success in originating, permitting, financing, and delivering complex renewable energy projects. By combining strong U.S. solar development execution with capability in energy storage, project delivery, and commercialization, Hanwha Renewables strengthens its ability to execute across the full project lifecycle with consistency and discipline.

The unified platform will focus on:

• Scaling Solar Development: Advancing a high-quality pipeline of solar PV projects to meet growing demand from utilities, corporations, and data-center customers.
• Expanding Energy Storage Deployment: Integrating BESS solutions to enhance grid reliability, improve project economics, and support higher penetration of renewables.
• Driving Execution and Innovation: Applying shared development, technical, and commercial expertise to deliver faster, more resilient project outcomes.

Joo Yoon, CEO of Hanwha Energy USA, stated:

“This formation represents the next phase of Hanwha Energy USA’s renewable energy strategy. We are bringing together two proven development organizations into one focused platform with the scale, talent, and execution strength to lead in a rapidly evolving market.”

Vitaly Lee, Chief Development Officer of Hanwha Renewables, added:

“This alignment is about continuity for our customers, partners, and teams, with greater scale and perspective behind it. Our standards, values, and development discipline remain unchanged, and we stay focused on delivering projects our customers trust and our people are proud to build.”

The formation enhances operational efficiency, deepens development capabilities, and expands partnership opportunities across the renewable energy value chain. Customers and partners can expect a stronger pipeline, streamlined execution, and a broader portfolio of solar and storage solutions backed by Hanwha’s long-term commitment to clean energy.

For more information, please visit www.hanwharenewables.com.