Q Cells has announced that its mother company Hanwha Solutions Corporation (HSC) has signed a Put Option Agreement (POA) to acquire 100% of the equity interest of RES Méditerranée SAS (RES France) – which forms part of the RES Group.
A definitive acquisition agreement would be entered into upon completion of the relevant consultation process of RES France. The completion of the proposed transaction is also subject to customary regulatory approvals. Founded in 1999, RES France is headquartered in Avignon, and has six regional offices throughout France. The company has a project pipeline in France of approximately 5.0 GW. Q Cells is the renewable energy business division of HSC.