Hanwha Solutions has completed the acquisition of RES’ development and construction business in France following regulatory approvals and notifications.
RES will retain its support service business in France providing asset management and operation and maintenance services across a portfolio of wind and solar projects.
The sale signals a significant milestone for RES as the capital raised will support its strategy to accelerate growth globally in its project development and construction activities as well as support services, the company said.
RES currently supports over 7.5GW of operational assets globally, providing a range of services.
RES chair Gavin McAlpine said: “It is an exciting time in the renewables market and for RES.
“We see increasing opportunities across our business and in line with our strategy, we expect significant growth in our Support Services business as we apply RES’ heritage, unique culture and industry experience to meet our client’s objectives.
“We are looking forward to continuing to work with our former French colleagues and Hanwha Solutions.”