Hanwha Group massively expands its presence in the renewable energy market in Europe with its acquisition of RES Méditerranée SAS, a French developer and operator of wind and solar power plants
Frankfurt, Germany, 10 August 2021 – The Frankfurt and Paris office of McDermott Will & Emery are advising Hanwha Solutions Corporation (HSC) on the envisaged acquisition of RES Méditerranée SAS from Renewable Energy Systems Limited (RES Group).
The EUR 727 million acquisition is expected to close by the end of October 2021. Founded in 1999 and headquartered in Avignon, RES Méditerranée SAS is active, inter alia, in onshore and offshore wind power, photovoltaics, energy storage and repowering. The acquisition of the French renewables project development company is part of Hanwha’s clear strategy to make a significant contribution to the energy transition and to complete its transformation into a leading full-service provider of renewable energy solutions. The acquisition will double Hanwha’s product pipeline in Europe to around ten gigawatts. Closing of the transaction is subject to the completion of the standard employee consultation process and customary regulatory approvals.
Hanwha Solutions Corporation is a multinational energy services, petrochemical and real estate development company headquartered in Seoul, South Korea and the parent company of Hanwha Q-Cells, one of the world’s leading solar companies. RES Group, which was founded in 1982 as part of the Sir Robert McAlpine Group is reportedly the world’s largest independent renewable energy company and headquartered in Kings Langley, England.
Advisors Hanwha Solutions Corporation: McDermott Will & Emery, Frankfurt: Dr. Bernd Meyer-Witting, Florian Lechner (joint lead) McDermott Will & Emery, Paris: Guillaume Kellner (Corporate/M&A), Jilali Maazouz (Employment), Laurent Ayache, Charlotte Michellet (both Regulatory), Associates: Boris Wolkoff (Corporate/M&A), Marion Schwartz (Regulatory), Abdel Abdellah (Employment), Charles de Raignac (IP) McDermott Will & Emery, Brussels: Hendrik Viaene; Associates: Caroline Ruiz Palmer, Karolien Van der Putten (all Competition)
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