By Brian Publicover in Tokyo
Thursday, July 25 2013
Updated: Friday, July 26 2013
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.
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