Isofotón S.A. is planning to bid to acquire Q-Cells SE. Isofotón has joined forces with an unnamed US partner to make the offer, Reuters reported, quoting a spokeswoman for Isofotón. Q-Cells said on August 26, 2012 that its administrator Henning Schorisch had signed a contract to sell it to Hanwha Chemical Corp. Spokesmen for Q-Cells and its receiver refused to comment before Reuters, while a Hanwha spokesperson said that there is a very small chance for the acquisition agreement to be overturned by Isofoton.

Q-Cells filed for insolvency in April after facing low-cost competition from Asia and excess supply of solar cells in the market.