The acquisition, two months after Q-Cells filed for insolvency, was confirmed by Hanergy in an email last night. The company has not released further details on the sale price.
The deal is one of the first of an anticipated wave of Chinese investment in overseas solar markets as the sector enters a phase of consolidation.
A huge glut of production capacity amid cuts to the subsidies driving demand in major European markets has seen panel prices drop by half in the past year bringing severe pressure on manufacturers.
Dozens
