The World's #1 Renewable Energy Network for News, Information, and Companies.

Hanergy Buys Thin-Film Solar Panel Maker MiaSole

Hanergy Buys Thin-Film Solar Panel Maker MiaSole

Hanergy Holding Group Ltd. bought MiaSole Inc., a California-based thin-film panel maker backed by Kleiner Perkins Caufield & Byers and ArcelorMittal, to increase capacity in anticipation of a solar industry revival.

The acquisition by the Beijing-based renewable-energy producer is its second in a less than a year after it bought the Solibro unit of Germany’s Q-Cells SE in June, Hanergy said in a statement today. Financial terms of the purchase weren’t disclosed.

Hanergy “has been actively expanding production capacity as we expect a rebound in the second half of this year” or in the first six months of 2014, Chairman Li Hejun said at a press conference in Beijing today. The company, which will continue to seek technology acquisitions, expects to produce 2.5 gigawatts of panels this year, compared with “several hundred megawatts” last year, Li said.

Chinese renewable-energy companies, including solar-wafer maker LDK Solar Co., are buying companies in the west, where slowing demand and rising supply have trimmed profit margins. The purchases also give Hanergy technology to compete with First Solar Inc., the biggest maker of thin-film panels by shipments.

A thin-film solar cell is made by placing layers of photovoltaic material on a semiconductor wafer. MiaSole’s products are made using copper, indium, gallium and selenium, instead of silicon, and are designed for large rooftop and ground-mounted industrial deployment, according to its website.

MiaSole and Solibro “can share patents, technology, supply chains and commercial synergies,” John Carrington, chief executive officer at MiaSole, told reporters today.

The Santa Clara-based company’s other investors include VantagePoint Venture Partners, Firelake Capital Management and Passport Capital, according to its website.

Copyright 2013 Bloomberg

Lead image: Big fish eats small fish via Shutterstock

CURRENT MAGAZINE ISSUE

03/01/2015
Volume 18, Issue 3
file

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

FEATURED PARTNERS



EVENTS

EU PVSEC 2015 (European PV Solar Energy Conference and Exhibition)

The EU PVSEC is the largest international Conference for Photovoltaic re...

Energy Security: Opportunity Power with the Sunny Boy Secure Power ...

Wouldn’t it be great to have a grid-tied inverter that could still...

SMA More Power, More Profit Tour - Duluth

SMA’s More Power, More Profit Tour is aimed to provide highly-valu...

COMPANY BLOGS

EU PVSEC 2014 extends its Scope

Added focus on application and policy topicsAbstracts for conference con...

EU PVSEC 2014: Call for Papers Receives Great Response

More than 1,500 contributions apply for presentation in AmsterdamScienti...

Helping Small Businesses Visualize Savings

    What does a small business owner care about? Most are run...

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS