Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio 
ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Microsoft Corporation and Qcells struck a new deal for the supply of solar panels. The strategic alliance will see the South Korean energy solutions firm providing the American tech firm with 12-gigawatts US-made solar panels until 2032.
As per Reuters, the agreement between Microsoft and Qcells announced on Monday, Jan. 8, is considered one of the largest-ever deals of its kind. The contract means a steady order of panels from the latter, which will continue for eight solid years.
Benefits: What Microsoft and Qcells Will Gain From the Collaboration
Qcells shared that this partnership with Microsoft will help it attain its goal of establishing a solar supply chain in the United States. With this achievement, it will be able to compete with China in the energy solutions market easily.
Plus, the company gained a locked agreement, which means a stable demand for its solar panels. As part of this strategic deal, Qcells will make wafers and cells, silicon ingots, and modules in its new plant in Cartersville, Georgia, which was built using a $2.5 billion investment.
For Microsoft, it will secure a supply of solar panels from a reliable company. The Redmond, Washington-headquartered firm, will be able to fulfill its sustainability objective of becoming a green company by gradually shifting to 100% renewable energy to power its operations starting next year.
Expanded Agreement
The new contract is an extension of the first deal that Microsoft and Qcells signed last year. In the first deal, they agreed to 2.5 gigawatt panels, and now the number has increased to 12 gigawatts, which is said to be enough to power around 1.8 million households.
"We are pleased to be a part of such a substantial commitment that will accelerate the global shift to renewable energy solutions," Qcells' chief executive officer, Justin Lee, said in a press release. "Qcells is uniquely positioned to ally with Microsoft towards creating a clean, sustainable future because of our investment in building an American-made solar supply chain. We look forward to expanding renewable energy frontiers together today and tomorrow."
Microsoft's vice president of energy, Bobby Hollis, also commented, "Our expanded agreement with Qcells is designed to drive large-scale domestic production of solar modules essential to advancing a resilient U.S. supply chain and clean energy economy. Through long-term agreements like this, we are signaling Microsoft's demand and bringing more renewable energy to the grid, faster."
Photo by: Qcells Press Release
