The Hanwha Group has announced the creation of Q Energy Solutions SE, a new holding company in which it will unify all of its downstream operations in Europe.

“Q Energy will operate as a holistic solutions provider in renewable energy power plants – from greenfield development all the way to the business as an independent power producer,” a company spokesperson told pv magazine. Q Energy will stand independently alongside its Q Cells photovoltaics division, which “will continue to deliver completely clean energy solutions to private and commercial end customers,” the spokesperson added.

The new company will be a direct affiliate of the group's Hanwha Solutions Corporation unit and will control the German division Q Energy Europe GmbH as well as the France-based subsidiary Q Energy France SAS. “For Q Energy Europe, the step from Q Cells into an own independent company means expanding from solar into wind, storage and green hydrogen. Therefore, we will leverage the experience and expertise of its sister company Q Energy France, which brings more than 20 years of experience in successfully developing wind farms in France.”

The new company has a project portfolio of around 12 GW, of which around 9.2 GW are for solar power plants. “The projects are in various stages of development,” the spokesperson explained. “Specifically in Spain and Portugal, we have recently completed construction of some projects while others are either under construction or will be started within the next couple of months. In France, we also have two projects currently under construction.”

Most of the projects, with a capacity of around 5 GW, are located in France, while Spain, Portugal, and Germany account for 4 GW, 2 GW, and 1 GW, respectively. “We’re currently expanding into Italy, the UK, and the Netherlands,” the spokesperson added.