[Courtesy of Hanwha Solutions]
SEOUL -- Enviria, a solar energy startup in Germany, joined hands with the European unity of Hanwha Solutions, a chemical and energy company affiliated with South Korea's Hanwha Group, to push for 500-megawatt solar energy development projects in the European country.
Enviria and Q Energy, the wholly-owned subsidiary of Hanwha Solutions, would jointly develop 38 solar power projects with a size of 2 to 70MW across Germany. The South Korean company said it would utilize Enviria's local network to secure land needed for solar power generation and obtain government approval.
Hanwha Solutions said it would build solar power plants by 2025 before selling or operating them directly. It would be the first large-scale solar energy development project promoted by Hanwha Solutions in Germany.
"Europe is one of the fastest-growing renewable energy markets in the world. We will push for various development projects that cover solar power, wind power, and ESS to grow into Europe's best general energy provider," Q Energy CEO Chung Sang-chull said in a statement on July 12.
Demand for green energy grows thanks to concern about climate change and tightened regulations on greenhouse gas emissions. In 2021, Hanwha Q Cells, a renewable energy unit of Hanwha Solutions, secured a springboard for its entry into the wind power market by acquiring RES Mediterranee, the French pipeline of energy projects from Britain's renewable energy company, RES.
RES Mediterranee operates energy projects with a combined production target of five gigawatts, for 727 million euros ($855 million) to expand its renewable energy development business in Europe. The acquisition would help Hanwha Q Cells' renewable energy business rights worldwide from ten gigawatts to 15 gigawatts. The company would use France as a base for targeting European markets.
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