Exchange Database

Hanergy acquires US solar cell firm

Privately held renewables company Hanergy Holding Group Ltd, headquartered in Beijing, announced on Wednesday that it had acquired Alta Devices Inc, a California-based developer of high-efficiency thin-film solar cells. Hanergy reportedly bought all of Alta to strengthen its position in China's solar technology market, and to bring its thin-film solar technology to other sectors in addition to solar power stations.
Outcomes: 
According to Li, Hanergy is investing in a factory for Alta Devices in the United States, which is scheduled to start operations in May 2015. Li said it will take time to cut costs, but the huge potential market will make it worthwhile.
Source: 

http://usa.chinadaily.com.cn/us/2014-08/14/content_18311135.htm

Government?: 
No
Type of Exchange: 
business
education/science
Partners: 
Hanergy Holding Group Ltd
Alta Devices Inc
Participants (Types): 
Li Hejun- chief executive of Hanergy, Alta Devices' Chief Executive Officer Chris Norris
Exchange Date: 
Wednesday, August 13, 2014
Continuing: 
No
Image: 
Location: 
Beijing and California
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