In a financial filing announcing the deal, LONGi gave no reasons for the planned purchase of Vina Solar, or its future plans for the company, which has had number of rival PV manufacturers from China as customers. Image: Vina Solar
‘Solar Module Super League’ (SMSL) member, LONGi Solar has signed a framework agreement to buy Vietnam-based solar cell and module OEM (Original Equipment Manufacturer), Vina Solar for RMB 1.78 billion (US$253 million).
Vina Solar is a subsidiary of Chinese industrial company East Group. The deal to purchase Vina Solar comes straight after China-based PV manufacturer, Jiangsu Akcome Science & Technology Co would have seemed to have pulled out of deal to purchase Vina Solar and its subsidiaries for the same amount as LONGi Solar has agreed.
After further detailed due diligence, LONGi Solar hopes to complete the purchase before the end of June 2020.
However, in a financial filing the company gave no reasons for the planned purchase of Vina Solar, or its future plans for the company, which has had number of rival PV manufacturers from China as customers.
Mar 10 - Mar 12, 2021
Penang, Malaysia (also available virtually)
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability. This event will be run as a live event in Penang for delegates able to attend and will also welcome virtual delegates via streamed content and online networking.
Oct 27 - Oct 29, 2020
Going into its fifth year over 200 delegates from 150 companies and 20 countries representing the PV supply chain will gather (virtually, due to COVID-19) for 3 days to discuss the technology roadmaps for PV cell advancement in GW markets. The scope of the event has been expanded this year, to cover developments in wafer supply and thin-film investments and technologies alongside all the regular benefits to all stakeholders tracking PV technology and investment trends for the next 5 years.