Freshly created Q ENERGY Group goes into European market with a 12GW project pipeline
- Hanwha Qcells' nuclear power plant division Q ENERGY Europe has actually partnered with freshly rebranded Q ENERGY France to establish umbrella business Q ENERGY Solutions SE as it seeks to deepen its connections to the European market where it has a 12GW advancement portfolio.
Both business will operate under the umbrella of Berlin-based holding company Q ENERGY Solutions SE, which is a direct affiliate of South Korean empire Hanwha Solutions Firm, parent company of the Korean module maker Hanwha Qcells that has additionally recently undergone a rebrand in line with its moving service design.
Both companies will additionally include 1GW of existing renewables projects in Europe and the Group overall is energetic across Spain, France, Portugal, German, Italy, the UK and the Netherlands.
The new Group will have a 12GW development portfolio, including 9.25 GW of solar PV and 2.25 GW of wind power along with 500MW of storage capacity. The projects are spread throughout Portugal (2GW), Spain (more than 4GW), France (5GW) and also Germany (near to 1GW), with "aims to further broaden its local existence in Europe to nations like Italy, the UK and the Netherlands in the close to term".
Additionally, Q ENERGY will certainly likewise explore exactly how to speed up green hydrogen project implementation, calling the innovation "crucial" for Europe's energy transition.
" Q ENERGY lays out to deliver holistic remedies throughout the entire value chain of renewable energy projects to our European companions-- from green-field-development, to engineering, purchase and building and construction (EPC), to operations & upkeep (O&M), completely to marketing tidy energy as an independent power producer (IPP)," claimed Sang Chull Chung, CEO of the Q ENERGY Group.
" The coming 3 years will be committed to swiftly grow our business in all facets to around dual of its size today."
The business said the group would certainly be "completely bankable as a member of Top-7 Korean enterprise Hanwha Group, which just recently specified its strategies to spend US$ 3.3 billion in solar as well as wind modern technology with the intent of developing a solar R&D hub in South Korea as part of a substantial financial investment approach concentrated on a number of enterprise zones.