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.
(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.
