Bloomberg
Hanergy Holding Group Ltd., the Chinese clean-power producer, acquired the U.S. photovoltaic manufacturer Global Solar Energy Inc. for an undisclosed amount, its third purchase in a year of a thin-film panel maker.
Global Solar joins Miasole Inc., which Hanergy purchased in January, and the Q-Cells SE Solibro unit it acquired in September, the Beijing-based company said yesterday in a statement on its website. They all make thin-film panels using copper indium gallium selenide.
Hanergy is seeking to become a more significant supplier in the solar-panel market while avoiding the commoditized silicon-based products that have plunged in value as global production capacity exceeds demand, said Dan Ries, an analyst at Maxim Group LLC in New York.