enercity, a German energy supplier, has acquired the key business areas along with a solar portfolio from Hanwha Q CELLS, a manufacturer of solar cells, modules, and energy storage systems.
“With the acquisition of Hanwha Q CELLS’ energy trading business, we are further expanding our position as a frontrunner in the energy transition. We are taking over the services and supply area in the private customer segment for electricity and heat, thus ensuring stability and reliability for customers,” said Aurélie Alemany, CEO of enercity.
The contracts will be taken over in full and continued under the same conditions. In addition, enercity is taking over several photovoltaic systems and PV projects in the planning stage with a total installed capacity of almost 20 megawatts.
“Last year, more than 50 percent of the electricity generated by enercity came from renewable energy sources,” explains Alemany.
Hanwha Q CELLS manufactures solar cells and modules, offers a portfolio of energy storage systems, and has a pipeline of large-scale renewable energy projects. The company also delivers renewable electricity retail services and solutions to end customers.
The company is also selling its shares in LYNQTECH. enercity digital, a wholly-owned subsidiary of Enercity and previously holding approximately 35% of LYNQTECH, will become the sole owner. LYNQTECH is a cloud platform that streamlines and integrates sales-related processes for energy supply companies.
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, 62 solar M&A transactions were executed in 9M 2024 compared to 75 in 9M 2023.
Recently, Norway-based FREYR Battery has announced it is acquiring China-headquartered solar photovoltaics company Trina Solar’s U.S. solar manufacturing assets for $340 million. FREYR will acquire Trina Solar’s 5 GW solar module manufacturing facility in Wilmer, Texas, which started production on November 1, 2024.
