Chinese clean power heavyweight Hanergy will acquire Global Solar Energy, an Arizona-based company that was making ultra-thin solar panels using the materials copper, indium, gallium and selenium (CIGS). When closed, it will be Hanergy’s third purchase of a thin film solar company, following the acquisitions of Miasole and Solibro.
Late last year Global Solar Energy reportedly laid off nearly all of its employees and stopping its manufacturing operations. The venture-backed Global Solar initially sold strings of CIGS solar cells to companies that would then assemble those strings into panels. Around 2009, the company said it would switch its focus to making flexible solar panels that forgo the use of glass as a protective cover.
Hanergy is a massive clean power producer in China, which runs 6 GW of hydropower plants and employs 5,000 people worldwide. It also says it has factories that can produce 2 GW of solar panels per year. Hanergy bought Miasole and Solibro late last year. You can read more about Hanergy here.