Manz expects €129 million in deposits from JV major CIGS thin film order

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

PV and electronics equipment manufacturing and automation specialist Manz AG has received €50 million from Chinese JV partners Shanghai Electric Group and Shenhua Group for turnkey CIGS thin-film production lines with a further €79 million also expected in May to start work on its largest ever equipment order.

The €50 million already received was for the sale of Manz CIGS Technology GmbH, an R&D JV already established with the two Chinese partners, with the current Manz R&D line in Germany included in the transfer to the new JV for €50 million (US$53.7 million). Manz becomes a 15% shareholder for €25 million (US$26.8 million) in the R&D arm. 

The R&D JV has been renamed NICE PV Research Ltd and is designed to speed up the development of CIGS technology. 

Manz noted that a further €79 million prepayment was expected in May, 2017 from Shenhua Group and Shanghai Electric that would enable Manz to start building the tools for the JV’s planned 306MW production line and a 44MW pilot line at a combined cost of around €263 million (US$282.22 million).

Previously announced plans included first tool deliveries later in 2017 and would be completed sometime in 2018.

Read Next

July 29, 2021
Tracker and racking provider Arctech has delivered SkySmart II tracking system to a 575MW agriculture-sharing solar project located in Nangong City, Hebei Province, China.
July 23, 2021
China could install up to 65GW of solar this year, driven largely by a surge in demand for distributed solar installations, while average solar deployment could reach 90GW per year in the years leading up to 2025.
July 16, 2021
Finlay Colville, head of market research at PV Tech Research, explores the critical themes behind the solar industry’s transition from p-type to n-type cell production before previewing PV CellTech Online 2021.
July 15, 2021
Legislation that would ban the import of all products from China’s Xinjiang region into the US has taken a critical step forward, passing the US Senate.
July 13, 2021
Solar PV capacity in Asia Pacific could triple to 1,500GW by 2030, with China driving deployment and Indonesia set to be the region’s fastest-growing market, according to Wood Mackenzie.
July 9, 2021
German renewables asset operator Blue Elephant Energy has shelved plans for an initial public offering (IPO) after it secured a €75 million (US$88.8 million) cash injection.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK