Hanwha Solutions to acquire RES France for 1 trillion won
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Hanwha Solutions to acquire RES France for 1 trillion won
  • Kevin Lee 기자
  • 승인 2021.08.10 10:38
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It aims at securing renewable energy technology amid global carbon-neutral growth trend.

Hanwha Solutions, led by CEO Kim Dong-kwan, will acquire RES France, a French renewable energy company, for 1 trillion won. This is the first time Hanwha Group is making an M&A in the renewable energy sector.

It is planning to secure renewable energy technology and human network amid global carbon-neutral growth trends while solidifying its business base in the European market.

Hanwha Solutions CEO Kim Dong-kwan delivers a speech at the 2021 P4G Seoul summit.
Hanwha Solutions CEO Kim Dong-kwan delivers a speech at the 2021 P4G Seoul summit.

Hanwha Solutions held an extraordinary board of directors’ meeting on Aug. 9 and announced that it will acquire a 100% stake in RES France for about 727 million euros (about 984.3 billion won.)

Hanwha Solutions plans to complete the contract process for the development and construction management of RES France and the acquisition of 5 gigawatts (GW) of solar and wind power plants development license (pipeline) by October.

Hanwha Q Cell, which is part of Hanwha Solutions’ green energy division, currently holds 10 GW of renewable energy business rights worldwide.

When the acquisition of RES France is completed, only business rights in Europe will be increased to 10GW. By global standards, it will increase to 15GW.


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