Morrison-backed Chrysalis Renewables acquires two US solar projects through Hanwha partnership

On June 18, 2026, Chrysalis Renewables LP (“Chrysalis”) announced the acquisition of the Atlas V and Atlas VI solar projects in the United States. The transaction is the first completed under the strategic partnership between Chrysalis and Hanwha Renewables LLC (“Hanwha”), which was announced in February 2026.

The partnership is designed to accelerate the deployment of high-quality, construction-ready and operational renewable energy projects through a repeatable M&A framework. Under the Chrysalis–Hanwha partnership framework, Chrysalis acquires projects from Hanwha that meet aligned investment criteria, while leveraging Hanwha’s integrated capabilities across development, engineering, procurement and construction (“EPC”), module supply, asset management, and operations and maintenance (“O&M”). Atlas V and Atlas VI represent the first projects delivered under this model.

Atlas V and VI have a combined capacity of approximately 357MWdc and are in the final stages of commissioning. They form the first two stages of the multi-phase Atlas Energy Park development in La Paz, Arizona, one of the largest renewable energy developments in the United States. The projects are expected to support domestic manufacturing, strengthen clean energy supply chains, enhance grid reliability, and reduce exposure to trade and tariff risks.

The transaction also establishes a framework for future collaboration between Chrysalis and Hanwha. Under its partnership with Hanwha, Chrysalis will initially target more than 3.5GW of solar and battery energy storage system (BESS) deployment in North America, with the potential to expand the asset portfolio and geographic reach, including to Japan, Australia, and Italy, over time.

Further information can be found on Morrison’s website.

Chrysalis is a global operating renewables investment platform established and managed by Morrison that seeks to acquire a diversified portfolio of operational and construction-ready wind, solar and storage assets through a single, scalable vehicle. It leverages Morrison’s sector specialists and adopts an asset selection strategy that is designed to deliver an attractive investment profile by selecting high-quality projects globally that have complementary features, seeking to create structured diversification of risk across its portfolio.

Morrison is a leading global infrastructure manager, investing across the risk spectrum in both private and listed markets. Established in 1988, it has over US$30 billion of assets under management as of 30 June 2025.

Hanwha Renewables is a renewable energy platform focused on utility-scale solar and energy storage project development and delivery, particularly in North America. It is purpose-built to advance Hanwha Group’s clean energy ambitions by designing, building, and managing renewable energy solutions at scale. It brings global renewable energy leadership and development expertise to its North American operations.