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Jun 6th, 2012
 
Hanergy acquires Q-Cells CIS (CIGS) thin-film subsidiary Solibro
 
Hanergy Holding Group Limited and Q.CELLS signed an agreement for Hanergy to acquire Q.CELLS’ thin-film subsidiary Solibro, at Hanergy’s headquarters in Beijing.
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  • Solibro to benefit from business network and investment
  • Solibro’s mother company Q-Cells filed for bankruptcy few weeks ago.
  • In 2011, Solibro delivered 66 MW of CIS modules (2nd place after Solar Frontier)
  • It’s technology is based on coevaporation process owing high conversion efficiency potential

After exploring various available thin-film investment opportunities, Hanergy has decided to invest in the leading copper indium gallium diselenide (CIGS) co-evaporation technology that Solibro has developed over the last 25 years. After the completion of the acquisition, Solibro will ramp up to a yearly production of 100 MW in Thalheim to supply Hanergy’s European customers.

Q.CELLS evaluated several potential partners that would be able to fully develop the potential of CIGS thin-film technology and make best use of its Thalheim-based facilities. Solibro’s technology and manufacturing capacity, combined with Hanergy’s photovoltaic (PV) strategy, resulted in a fast and successful conclusion of the transaction. Moreover, Hanergy will not shrink Solibro’s workforce or change the company’s leadership; Solibro’s operations will remain unaffected, as will its after-sales service provided to customers.

 

 
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