Hanergy buys CIGS player GSE
China's Hanergy has continued its acquisition spree by snapping up US thin-film panel maker Global Solar Energy (GSE), following on its acquisitions last year of rival copper, indium, gallium, selenide (CIGS) specialists Solibro and MiaSole.
The deal, for an undisclosed sum, will see GSE become a wholly owned subsidiary of Hanergy.
Beijing-based Hanergy started as a hydropower developer and dam-builder, but has expanded aggressively into PV since the industry downturn.
In May, it took the unexpected step of acquiring London-based system-integrator Engensa.
“The acquisition of GSE closes the loop of Hanergy’s strategic consolidation of technologies that combine the competitive advantages of flexible thin-film PV modules and large scale production,” Hanergy chairman Li Hejun said in an online statement.
In May, Hanergy revealed plans to push its thin-film PV products in the global downstream solar market by establishing six regional offices throughout the world. It is focusing on integrating thin-film into building materials, rooftop and ground-mounted arrays, in addition to producing flexible panels for consumer products.
The Beijing-based energy producer is now the third-biggest manufacturer of thin-film PV modules in the world, after First Solar and Solar Frontier.