Hanergy Holding is transferring the intellectual property (IP) rights to Solibro’s copper-indium-gallium-selenium (CIGS) thin-film technology to subsidiary, Apollo Kunming.
Included in the deal is the IP from Solibro Research AB, a Swedish CIGS solar technology research and development company.
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Solibro GmbH, the former thin-film subsidiary of German solar cell manufacturer Q-Cells SE was acquired by Hanergy Holding Group in September, 2012.
In a separate statement covering first-half 2013 financial results, Hanergy noted that new Chinese Government directives on PV manufacturers having to meet improved conversion efficiency targets, including thin-film manufacturers would lead to further consolidation and a need for companies to focus greater resources on R&D activities, something Hanergy said it would do to meet targets.
The company said that it would focus on more advanced thin-film technologies including nano-crystalline silicon and CIGS.
The key driver is due to the State Council of China’s industry dictate that is pushing PV manufacturers to meet minimum conversion efficiency values for newly constructed PV module manufacturing facilities of 18% for multicrystalline, 20% monocrystalline and 12% for thin-film technologies.
The Solibro IP transaction was valued at RMB280,000,000 (US$45.7 million).