Hanwha Solutions Corp., the energy arm of chemical-to-financial conglomerate Hanwha Group, said Monday it will acquire a French renewable energy developer in line with its expansion strategy.

Hanwha Solutions will purchase an entire stake of French wind and solar power plant firm RES Mediterranee for 984.3 billion won ($860 million) on Oct. 20, the company said in a regulatory filing.

"The planned stake purchase is aimed at making a presence in the European renewable energy development market," it said. (Yonhap)