Hanergy Global Solar Power (Europe), a subsidiary of China-based Hanergy Solar Group, has signed a letter of intent (LOI) to purchase a company which owns two PV projects under development in Portugal.
The two PV projects will each have a capacity of 2.2MW and will utilise advanced thin film technologies such as CIGS or amorphous silicon.
The LOI was signed with an unnamed independent seller and the parties involved now expect to enter final negotiations to conclude a definitive agreement. Final negotiations will continue until 20 March.
The proposed acquisition is in line with Hanergy’s strategy, which seeks opportunities to expand into the downstream solar business as well as its plans to expand its international solar portfolio.