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Hanwha Solutions is expected to step up investments in the clean energy business as the South Korean company has gained a foothold to become a global player in the renewables market with its acquisition of RES Mediterranee SAS, commonly known as RES France.

The company is at the final stages of the 727 million euro ($844 million) acquisition of the French renewables developer through its green energy division Hanwha Q Cells, according to industry sources. The transaction is expected to close in early or mid-November.

In its announcement of the RES France deal in early August, Hanwha Solutions said it would continue to expand investments at home and abroad as part of its ambitions to grow as a leading company in the global green energy market.

By acquiring RES France, Q Cells’ renewable project pipeline will increase to 10 gigawatts in Europe and 15 gigawatts globally, enabling the business to achieve economies of scale.

Q Cells, which mainly produces solar panels, already operates in Spain and Portugal. The deal will help enhance its presence in the European renewables market, and also diversify its business to include wind farms. On and offshore wind power represents more than half of RES France’s renewable project pipeline.

Hanwha Solutions plans to increase domestic investments in future solar technology such as perovskite solar cells.

Globally, the company last year acquired Growing Energy Labs, a San Francisco-based energy storage solutions company, and has been exploring investment opportunities in startups with climate change technologies. (Reporting by Gyoung-tae Kim)