Hanergy agrees deal to acquire Q-Cells’ Solibro division

Hanergy Holding Group Limited, the Chinese renewable energy company, said it had agreed to acquire Solibro GmbH, the thin-film division of German solar cell manufacturer Q-Cells SE (ETR:QCE), without disclosing any financial details.

Hanergy explained its move with the 25-year experience of Solibro and the successful development of its copper indium gallium diselenide (CIGS) co-evaporation technology. The buyer’s chairman Li Hejun said the acquisition will consolidate the group’s position on a global level and create synergies that will bring added value to both companies.

Jason Chow, senior vice president of Hanergy Industrial PV Group, in turn, commented that his company will support Solibro’s proven track record in the thin-film CIGS technologies with its wide network, solid production capacity and long-term R&D investments.

Upon completion, Solibro will keep its staff and leadership team as well as its operations and after-sales service.

Beijing-headquartered Hanergy Holding Group, with units in China, the US, the UK, Italy, the Netherlands, the Czech Republic, Singapore and Hong Kong, was set up in 1994. It’s installed hydroelectric capacity stands at 6,000 MW.