174 Power Global

What 174 Power Global does

174 Power Global is the U.S. investment and incubation arm of Hanwha Energy and an affiliate of Hanwha Group, a Fortune Global 500 South Korean conglomerate. Founded in 2013 and headquartered in Irvine, California, the company operates an integrated energy platform spanning the full U.S. energy value chain through four wholly-owned operating subsidiaries: Hanwha Renewables (utility-scale solar and battery energy storage development), Hanwha Data Centers (powered land and integrated energy infrastructure for hyperscale and enterprise data center users), Chariot Energy (residential and commercial retail electricity supply in the deregulated ERCOT and PJM markets), and Hanwha Gas Power Solutions (dispatchable gas generation for grid stability and large energy users).

The company's business model combines long-duration, capital-intensive infrastructure development (solar, storage, gas generation, and powered land) with downstream retail energy delivery through Chariot Energy. Revenue is generated through multiple mechanics: power sales from utility-scale renewable and dispatchable generation assets, long-term power supply agreements and infrastructure fees from hyperscale and enterprise data center customers, and retail electricity supply margins from residential and commercial consumers in deregulated markets. The company raised $210 million in a 2019 funding round and acquired OnForce Solar that same year to bolster its distributed-generation capability. Henry Yun serves as founder and CEO.

Customer segments are diversified across three primary axes: hyperscale/enterprise data center operators seeking powered land, large energy users and utilities requiring dispatchable generation and grid support, and residential/commercial electricity consumers in deregulated markets. The integrated platform architecture — generation, grid support, energy-backed infrastructure, and end-customer delivery — is designed to capture cross-vertical synergies, with Hanwha Group providing patient capital and global scale advantages relative to independent U.S. energy developers.

Name

174 Power Global

Legal name

Hanwha Energy USA

Website

https://174powerglobal.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

174 Power Global is the U.S. energy platform of Hanwha Group, developing utility-scale solar and storage, powered land for hyperscale data centers, retail electricity supply (Chariot Energy) in ERCOT and PJM, and dispatchable gas generation for grid stability.

Ownership category

akta.pro rank

Product category

Integrated Energy Infrastructure

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111), Fossil Fuel Electric Power Generation (221112), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911)

akta.pro industry

PRIMARYEUAEAMAA

Utility-Scale Power Generation Asset Management

Energy, Utilities & Environment/Energy Infrastructure & Services (EPC, O&M, Field Services)/Energy Infrastructure Asset Management

SECONDARYFSAAAKAG

Renewable Energy Infrastructure

Financial & Insurance/Asset & Wealth Management/Asset Management — Real Assets (Real Estate, Infrastructure, Natural Resources)

Keywords

• Utility-scale solar development
• Battery energy storage
• Data center power infrastructure
• Retail electricity supply
• Dispatchable power generation

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D

Distribution channels2 records

Core offering

174 Power Global, through its affiliated U.S. platform Hanwha Energy USA, operates an integrated energy infrastructure business spanning utility-scale solar and battery storage development, powered-land solutions for hyperscale data centers, retail electricity supply to residential and commercial consumers in deregulated markets (ERCOT and PJM), and dispatchable gas-fired generation for grid stability. Revenue is derived from long-term power offtake agreements, electricity sales, project development, and energy supply contracts across the United States.

Product overview

Hanwha Energy USA operates an integrated energy platform that spans renewable energy generation, energy-backed infrastructure, and end-customer energy delivery. The platform consists of four main operating subsidiaries: Hanwha Renewables (utility-scale solar and battery storage development), Hanwha Data Centers (powered land and infrastructure for data centers), Chariot Energy (retail electricity supply for residential and commercial customers in ERCOT and PJM markets), and Hanwha Gas Power Solutions (dispatchable gas generation for grid stability). This multi-brand portfolio covers the full energy value chain from generation and grid support to energy-backed infrastructure and end-customer delivery.

Differentiator

Problem solved

Functional benefit

Brands

• Hanwha Renewables: Utility-scale solar and battery energy storage development across the United States. The cornerstone of Hanwha Energy USA's clean energy platform.
• Hanwha Data Centers
• Chariot Energy
• Hanwha Gas Power Solutions

Products and services

• Hanwha Renewables

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• LandownersminorStrategic or Co-development PartnerPartnerships with landowners for utility-scale solar, battery storage, and other energy infrastructure development sites.
• Infrastructure PartnersminorStrategic or Co-development PartnerCollaborative partnerships for developing energy infrastructure solutions that advance the U.S. energy market.

Recent moves6 records

Expansion highlights7 records

Broad incumbents

• NRG Energy: Large U.S. retail electricity provider and power generator with significant ERCOT and PJM presence. Comparable retail-supply footprint to Chariot Energy, while also operating dispatchable generation assets similar to Hanwha Gas Power Solutions.
• EDF Renewables: U.S. subsidiary of EDF Group, one of the largest renewable energy developers globally. Comparable in utility-scale solar and storage development, with similar parent-backed capital structure and long-dated project pipeline.
• NextEra Energy Resources: The largest U.S. renewable energy developer and operator (subsidiary of NextEra Energy). Directly comparable as a utility-scale solar and storage developer with grid-scale generation assets, but operates as a much larger, publicly listed incumbent with a broader portfolio.

Direct peers

• Calpine Corporation: Largest U.S. operator of dispatchable natural gas and geothermal power generation, with significant presence in ERCOT and PJM. Directly comparable to Hanwha Gas Power Solutions' flexible, dispatchable generation profile.
• Apex Clean Energy: U.S. utility-scale renewable energy developer with a large pipeline of wind and solar projects. Comparable as a privately held, project developer focused on large-scale clean energy infrastructure across multiple U.S. regions.
• Avantus (formerly 8minute Solar Energy): Major U.S. utility-scale solar and storage developer with one of the largest U.S. development pipelines. Directly comparable to Hanwha Renewables in project scale, technology focus, and developer business model.
• Clearway Energy: U.S. renewable energy owner/operator with utility-scale wind and solar assets. Comparable as a contracted renewables platform owning and operating grid-scale clean energy projects across the U.S.
• Intersect Power: Utility-scale solar and storage developer with a dedicated focus on powered-land and integrated energy solutions for data center customers. The most direct peer to Hanwha Data Centers and Hanwha Renewables given the hyperscaler-driven strategy.
• Invenergy: Privately held U.S. developer of utility-scale wind, solar, and battery storage projects. Closely comparable in scale, private ownership profile, and vertically integrated development + operations model across renewable generation.
• Vistra Corp: Major U.S. power generator and retail electricity provider with large ERCOT exposure (TXU Energy brand). Directly comparable through the combination of dispatchable generation (gas + nuclear) and retail energy supply in the same Texas market where Chariot Energy operates.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/174-power-global-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 174 Power Global