Hanwha Q CELLS announced on July 14 that it has signed a contract to acquire a 66 percent stake in Lynqtech, a German energy trading platform company.
Lynqtech is a company established by Enercity in July 2020. Enercity is a public company that supplies electricity and gas in Germany. Lynqtech is running an energy platform of its own development, which is tailored to the electric power market in Germany.
Power companies using Lynqtech’s platform can cut costs by managing their entire business processes from marketing, power grid operation, and billing in real time. The platform is in a modular structure, allowing users to assemble business processes step by step in accordance with the energy market structures and regulations of their countries.
Hanwha Q CELLS expects to generate synergies with its downstream businesses, such as the development and operation of power plants in the United States and Europe. The company plans to use the smart energy platform for renewable energy-based power projects being developed or constructed around the world by Hanwha Q CELLS and Q Energy, a European subsidiary of Hanwha Solutions.
