Hanergy to make payouts to thin-film subsidiary

Facebook
Twitter
LinkedIn
Reddit
Email

Hanergy Solar is set to receive significant investment from its parent company as it prepares to ramp up its thin-film production capacity.

In a statement to the Hong Kong stock exchange, Hanergy Solar announced that it had agreed a payment schedule for the next round of payments from its parent company.

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

It will receive an installment of HK$500 million (US$64.5 million) in December and another of the same size in January next year with the remaining HK$587.8 million (US$75.8 million) to be paid during February 2014.

Last month Hanergy revealed that it would be increasing its CIGS production line through its production equipment manufacturer Apollo.

The company is to increase its CIGS production by 5.25GW. It is also looking to boost its a-Si capacity.

At present First Solar and Solar Frontier are the only tier one thin-film manufacturers but it appears that Hanergy is attempting to become the third.

“Though controversy still exists regarding the comparison between thin-film and polysilicon technologies, we trade insiders have no disagreement in regarding thin-film as the future of PV, in addition to being a trend already,” claimed Li Hejun, Hanergy’s chairman, speaking last month at the launch of his book New Energy Revolution – the Power to change China and the World.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA