Sunrun the U.S. solar company dedicated to the growing residential PV market has entered into a 50 MW module supply arrangement with South Korean solar module manufacturer Hanwha Q Cells.
The deal will see a Hanwha Q Cells subsidiary in the U.S. provide the modules to aid Sunruns expansion across a U.S. residential solar market that has been boosted by low- or no-upfront cost solar schemes in recent years.
"Our modules possess the quality and high-efficiency characteristics that Sunrun requires for its customers," said Hanwha Q Cells America president Justin Lee. "This contract, combined with other previously announced supply agreements, has further strengthened our position as one of the leading suppliers of solar modules to the U.S. market."
According to Sunrun COO Paul Winnowski, the company identified Hanwha Q Cells as a provider that could be trusted to deliver "high quality modules and service, which will continue to advance Sunruns mission of making solar more accessible and affordable for homeowners."
Earlier this month, Sunrun announced plans to raise $111 million through an aggregate securitized solar asset offering, coming just a week after the company took the first steps towards IPO as it eyes a greater share of the growing residential PV market of the U.S.