Hanwha Solutions, the mother company of Q Cells, has announced that it has closed a deal to acquire 100% of the equity interest of RES Méditerranée SAS, which owns 100% of RES SAS (RES France).
The acquisition increases Q Cells’ renewable energy portfolio in Europe, doubling its clean energy project pipeline on the European continent to around 10 GW. Q Cells is the renewable energy business division of Hanwha Solutions, and has been actively expanding its business beyond solar cell and module production to renewable energy downstream project development, and distributed energy retail and supply. RES will retain its Support Service business in France – providing Asset Management and Operation & Maintenance services across a large wind and solar portfolio.
