Hanergy buys Global Energy after Q-Cells and Miasole

Hanergy the Chinese solar giant is all set to become the world’s leader in CIGs solar panel technology as it acquired a 3rd distressed CIGs startup Global Energy. Hanergy has been a little late to the solar energy game compared to the other Chinese solar panel makers such as Yingli Green Energy (YGE), Trina Solar (TSL) and others. However, the company is using its large resources to acquire strategically important companies at extremely cheap prices. Many of these companies have seen investments of upto 10 times their sale prices.

Read reviews on Hanergy Solar panels and its thin film technology.

Hanergy first bought bankrupt German giant Q-Cells CIGs subsidiary to enter into the thin film solar panel industry. It followed this acquisition by buying the world’s technology leader in CIGs – Miasole. For readers who do not know, Miasole had got a lot of VC interest and its technology was all set for the big time before the solar panel industry hit its biggest downturn. With solar panel prices ruling below costs, a startup had almost no chance. Miasole investors saw the writing on the wall and sold off to Hanergy for a pathetic $30 million.

Now Hanergy has bought another leading US CIGs company Global Energy to further bolster its technology leadership. It remains to be seen whether the Chinese company can harness 3 disparate products and teams to become an effective leader in the CIGs field. Note Solar Frontier is the leading CIGs solar panel provider with around 500 MW of shipments last year. TSMC has also been heavily investing in this technology as CIGs is said to have the best potential for efficiency improvements and cost reduction amongst all thin film solar film technologies.

Also read on GWI List of Top 15 Global Solar Thin Film Companies.