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Chinese solar firm Hanergy to acquire its third thin film solar company

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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.

HanergyLate 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.

3 Responses to “Chinese solar firm Hanergy to acquire its third thin film solar company”

  1. Global solar only failed because of its highly paid under achieved management teak worried about there pay and not the direction the company needed to go! also there sales team did a piss poor job of moving the product! I bet we see big things happen with all three of those firms. All that technology between those three, imagine what they can do! Lets see what hanergy can do.

  2. ubelievable – how they think they can become a big player in CIGS when they only buy companies that failed.
    thats real wast of money and a big fraud to get money from chinese banks.
    by the way – they are neither a giant nor a heayweight in the industry.
    the 2 GW thinfilm they claim is not in operation and far from beeing mature. It´s all old
    a-Si technology that never worked and never will become competitive again.