Hanergy acquires stake in Solibro
June 28, 2012 Category Alternative energy, Environment
The Chinese energy group Hanergy Holding Group agreed to acquire all of the shares that Q-Cells SE, a German maker of solar panels, holds in its subsidiary Solibro, a maker of thin-film solar panels. After the completion of the acquisition, Solibro will increase its yearly production capacity to 100 megawatt (MW) in order to supply power to Hanergy customers in Europe. “Hanergy has taken many big steps in recent years and the latest acquisition will help the company improve its technology used in manufacturing thin-film solar panels, which still lags behind what is used internationally,” said Gao Hongling, Deputy Secretary General of the China Photovoltaic Industry Alliance. China is the world’s largest maker of solar panels, mainly producing polysilicon panels. Manufacturers that want to make thin-film panels are faced with technical obstacles. Gao said the thin-film solar industry has developed slowly in the past few years, with some companies reducing their thin-film output. Following the acquisition, Hanergy’s chief competitor will be U.S.-based First Solar, the world’s largest manufacturer of thin-film panels. Hanergy has decided to put money into a specific technology, called copper indium gallium di-selenide co-evaporation, which Solibro has developed over the past 25 years. Hanergy Chairman Li Hejun said the acquisition will consolidate the company’s position in the global market.
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