The REC shares were worth $860m at the start of trading on 6 May, but their price slipped on the news.
Q-Cells currently holds a 17.2% stake in REC, making it the second-largest shareholder behind Norwegian industrial conglomerate Orkla, with its 40% holding. Norwegian utility Hafslund controls 14% of the company.
The money will be useful to Q-Cells, which in February dropped its sales guidance for 2009 for the second time, blaming weakening global demand for solar products.
