Motech to buy GE Energy solar module production plant in Delaware

Facebook
Twitter
LinkedIn
Reddit
Email

Motech has signed an agreement to buy GE Energy’s solar photovoltaic module assembly operation located in Newark, DE. The 34MW-capacity crystalline silicon PV panel plant, which GE bought from AstroPower in 2004 and planned to close down next year, employs 75 people.

In the purchase agreement, the Taiwanese PV cell and systems manufacturer will be granted the rights to use GE Energy’s module trademark for two years and will be entrusted to maintain GE’s high standards for solar module manufacturing at the existing factory site, the companies said.

Motech will also assume the responsibility to provide warranty services to GE’s existing module clients.

The two companies have had an ongoing business relationship, in which Motech has been a supplier of solar cells to GE for the past four years.

“We are pleased to announce this agreement to purchase the solar module operation from GE Energy” said Simon Tsuo, chairman/CEO of Motech. “We will do our best to maintain the high quality and safety standards GE has established at this factory.”

The transaction is subject to customary closing conditions and is expected to be finalized in early January.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

(update) AFP is reporting that Motech is paying $4.54 million for the plant.

Semiconductor foundry company TSMC recently bought a 20% interest in Motech, as part of a strategic partnership.

GE Energy still maintains a majority interest in CdTe thin-film PV start-up PrimeStar and recently launched its first product in the solar inverter market.

Read Next

July 18, 2024
The financing will be offered to two banks, as they will provide loans to developers and end-users to install rooftop solar systems.
Sponsored
July 18, 2024
Shaun Xiong, general manager of Anker's Europe storage business, discusses the company’s background, priorities and plans for the future.
July 18, 2024
On Wednesday (17 July), the Tasmanian government in Australia removed a ‘speed limit’ measure that has prevented state-owned utility Hydro Tasmania from developing large-scale renewable energy projects, such as solar, without a "cumbersome" Parliamentary process.
July 18, 2024
Winning bids as low as INR3.41/kWh have been registered in a tender for solar PV paired with battery storage hosted by the SECI.
July 18, 2024
Enel Green Power Australia has acquired a 1GW solar-plus-storage project in the Central-West Orana REZ in New South Wales from RES Group.
July 17, 2024
Germany has been consistently adding over 1GW of solar PV capacity every month since March 2023, and has passed a total of 90GW capacity.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA