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China thin film leader buys US PV firm

Hanergy acquires Global Solar Energy to accelerate development of firm’s CIGS modules

solar panel
The acquisition aims to speed up development of Hanergy’s high efficiency CIGS modules at a large scale

A leading PV firm in China has bought a US solar cell manufacturer to help speed up its module production. Chinese thin film company Hanergy has acquired Global Solar Energy (GSE), which manufactures copper indium gallium diselenide (CIGS) solar cells in Arizona. The Chinese firm said the acquisition aims to accelerate its CIGS module development.

 

It is Hanergy's third solar acquisition in the last 12 months. The company bought firms Solibro in October 2012 and MiaSole in January 2013.

 

GSE uses what Hanergy describes as the world's leading CIGS technology to develop its solar cells. Li Hejun, chairman of Hanergy said acquisition of the company will help speed up development of the China firm's high efficiency CIGS modules at a large scale.

 

He said: "Together it completes the circle of Hanergy's global technology integration strategy, meaning we now have the ability to accelerate the development and large-scale application of our high-efficiency flexible CIGS modules. The cost-effectiveness and wide application of this technology make it a great step forward for Hanergy's development in large-scale solar energy generation and distribution."

 

Jeff Britt, CEO of Global Solar, added: "We are pleased to join with Hanergy, which we believe will best leverage our unique products and technologies to complement Hanergy's existing ones. Together we are well positioned to implement Hanergy's strategy of accelerating the growth of the flexible solar market and exploit new market potentials."

 

The news from Hanergy follows other solar material developments between Chinese and US companies in 2013. This includes Yingli Energy and DuPont, which signed a strategic agreement for the supply of solar pastes and film in June this year.