Solar

More

China's Aikosolar swoops for Dutch PV producer Scheuten

China’s Aikosolar has acquired Dutch PV company Scheuten Solar for an undisclosed sum.

The acquisition of “the essential components of Scheuten Solar” combines the “strengths of both continents”, says the Dutch group.

Scheuten Solar – a producer of thin-film solar panels and leading player in building-integrated PV – filed for bankruptcy in late February, after it could no longer meet payments to its creditors.

At the time, the company said it had been seeking investors since mid 2011 but had not found an interested partner.

Guangdong-based Aikosolar has 600MW of crystalline silicon cell production capacity. It also owns Powerway Renewable Energy, a developer of solar projects.

Scheuten Solar says the combination of Aikosolar’s financial strength and Powerway’s experience in international EPC will help it grow.

“The partnership provides an opportunity to extend the product portfolio of Scheuten Solar to cater for all market needs,” says a statement on the Dutch group's website.

Powerway says it will sell Scheuten products in regions including the US, South Africa, Japan and Southeast Asia.

“With this partnership we are able to create a one-stop shop where all steps of the supply chain come together to deliver a turnkey solution,” says Benson Wu, chief executive at Powerway.

The companies will develop ground-mounted and rooftop projects in Europe, and are expected to provide orders for an estimated 200MW of Scheuten Solar modules, equivalent to its current production capacity.

China’s solar companies are taking advantage of bankruptcies in the European industry to acquire leading technology and gain access to new markets.

Earlier this month Chinese firm Hanergy announced the purchase of Germany-based Solibro, also a thin-film solar panel maker.

In January, LDK Solar bought a minority stake in Germany's Sunways, and in April increased its share to 71% to take majority ownership.