EUR 727 Million Renewables Deal: McDermott advises Hanwha Solutions Corporation on its acquisition of RES Méditerranée SAS
The Frankfurt and Paris offices 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 was signed on 28 September 2021 and is expected to close in November 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)
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.