727 million euros renewables deal: Hanwha Solutions Corporation buys RES Méditerranée

Frank­furt a.M. — South Korea’s leading rene­wa­ble energy company Hanwha Solu­ti­ons Corpo­ra­tion (HSC) plans to acquire RES Médi­ter­ra­née SAS from Rene­wa­ble Energy Systems Limi­ted (RES Group). The Frank­furt and Paris offices of McDer­mott Will & Emery are advi­sing Hanwha Solu­ti­ons Corporation.

The acqui­si­tion, worth 727 million euros, is expec­ted to be comple­ted by the end of Octo­ber 2021. Foun­ded in 1999 and head­quar­te­red in Avignon, RES Médi­ter­ra­née SAS is active in onshore and offshore wind power, photo­vol­taics, energy storage and repowe­ring, among other areas. The acqui­si­tion of the French project deve­lo­p­ment company of wind and solar power plants is part of Hanwha’s stra­tegy to make a signi­fi­cant contri­bu­tion to the energy tran­si­tion and to complete the 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. The final closing of the tran­sac­tion is subject to the comple­tion of the custo­mary 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. HSC is the parent company of Hanwha Q‑Cells, one of the world’s leading solar compa­nies. RES Group, foun­ded in 1982 as part of the Sir Robert McAl­pine Group, claims to be the world’s largest inde­pen­dent rene­wa­ble energy company and is head­quar­te­red in Kings Lang­ley, England.

Advi­sors to Hanwha Solu­ti­ons Corpo­ra­tion: McDer­mott Will & Emery, Frankfurt
Dr. Bernd Meyer-Witting, Florian Lech­ner (both lead partners)
McDer­mott Will & Emery, Paris: Guil­laume Kell­ner (Corporate/M&A), Jilali Maazouz (Labor), Laurent Ayache, Char­lotte Michel­let (both Regu­la­tory), Asso­cia­tes: Boris Wolkoff (Corporate/M&A), Marion Schwartz (Regu­la­tory), Abdel Abdel­lah (Labor), Charles de Raignac (IP)
McDer­mott Will & Emery, Brussels:
Hendrik Viaene; Asso­cia­tes: Caro­line Ruiz Palmer, Karo­lien Van der Putten (all Competition)