It's starting to become a pattern: insolvent Europeansolarfirms (or pieces thereof) being acquired by Chinese firms, some already in the solar industry, some not.
Last week we saw Solibro, the modestly successful thin film unit of Q-Cells, acquired by Hanergy, a privately held Chinese power generator with gigawatts of hydropower assets. Q-Cells, once Germany's -- and the globe's -- largest solar manufacturer, filed for insolvency in April. Solibro shipped 66 megawatts of CIGS solar in 2011.
This week, Scheuten Solar, a Netherlands-based manufacturer of photovoltaic (PV) modules and building-integrated photovoltaics (BIPV) was acquired by Aikosolar, a solar cell manufacturer and owner of Chinese renewable project developer Powerway Renewable Energy, according to a press release. No financial details were divulged. Scheuten had filed for bankruptcy in February of this year.
In a statement, Powerway said, "With the upcoming anti-dumping and anti-subsidy policies in U.S and tightening PV incentives in Europe, It becomes a trend for downstream solar manufacturers to seek good market match-ups to guarantee and strengthen their position in the supply chain."
Regarding the Solibro acquisition, MJ Shiao of GTM Research noted, "The move by Hanergy is part of a recent trend of well-capitalized Asian companies investing heavily into thin film solar, especially in CIGS -- a trend that has included the likes of Hyundai, SK, TFG Radiant, TSMC, LG and many others."