Hanwha Solutions to acquire France’s RES Mediterranee for W984bn
Pearl Bantillo
09-Aug-2021
SINGAPORE (ICIS)–Hanwha Solutions will acquire 100% of French renewable energy developer RES Mediterranee for Korean won (W) 984.3bn ($860m), the South Korean chemical producer said on Monday.
The deal is expected to be completed on 20 October 2021, it said in a bourse filing.
The acquisition will help the company expand its power generation area with solar and wind power, Hanwha said in a statement posted on its website.
It will mark the company’s entry into the French power generation market and expand its power generation portfolio through wind power and greenfield development, it added.
Hanwha Solutions was formed in January 2020 with the merger of Hanwha Chemical, Hanwha Q CELLS, and Hanwha Advanced Materials.
($1 = W1,146)
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