Hanergy, one of China’s clean-energy giants, has bought the Californian manufacturer of thin-film solar photovoltaics (PV) MiaSole for an undisclosed sum.
The Beijing-headquartered company’s latest move into the solar PV marketplace follows its acquisition of a German company, thin-film manufacturer Solibro, from bankrupt parent company Q-Cells in June of last year.
Similar to Solibro, MiaSole makes solar panels using copper indium gallium selenide (CIGS).
Reports have been circulating that Hanergy forked out $30m for MiaSole, but Hanergy has declined to comment on the purchase price.
Around since 1994, Hanergy claims to have 6GW installed capacity from its completed and in-progress hydroelectric projects, coupled with 131MW of installed wind-energy capacity. Hanergy also claims to have 3GW of installed solar PV production capacity to make it the largest silicon thin-film PV producer in the world.
The company is also investing heavily in PV research and manufacturing facilities in seven Chinese provinces.
As well as this, Hanergy is also developing solar electric power plants and has entered into power plant construction agreements with authorities and project owners in China, the US and Europe.
“Hanergy’s vision to lead CIGS technology globally and its combined strength with Solibro and MiaSole, now make for a diversified and compelling product, which will be offered to a global customer base,” said Hanergy chairman Li Hejun at a press conference in Beijing this week.