Bitterfeld-Wolfen (Germany), 26 September 2012 – Henning Schorisch, Q-Cells SE’s insolvency administrator, transferred the photovoltaics company Solibro GmbH to its new owner. All of the just under 400 jobs are to be maintained. The company is bought by Hanergy Holding Group, the largest private energy corporation in China. The purchase agreement had already been signed on 25 June 2012. Subsequently, the contracting parties had jointly prepared the handover of the company and implemented corresponding contractual conditions. As of today, the sales process is successfully concluded and Solibro GmbH is fully taken over by Hanergy.
Therefore, in the form of Solibro a second major business was successfully maintained at the solar centre of Bitterfeld-Wolfen. Only just over four weeks ago, insolvency administrator Schorisch from hww wienberg wilhelm, a law firm operating throughout Germany, had sold the Q-Cells business to the South Korean Hanwha Group. “The takeover of Solibro by Hanergy is an important step towards maintaining the “Solar Valley Thalheim”, Schorisch emphasised. “The fact that the buyer wants to maintain all of the local jobs shows that foreign investors consider attractive not only the technological expertise of local companies but also their production resources and innovative prowess.”
Hanergy acquires the two European Solibro locations in Bitterfeld-Wolfen (approx. 370 employees) and Uppsala, Sweden (approx. 30 employees). Through the takeover of Solibro, Hanergy makes an investment into CIGS technology (copper, indium, gallium, diselinide), which is the leading thin-film technology Solibro developed over the course of the last 25 years. Hanergy plans to increase Solibro’s production to 100 megawatts per year to serve the group’s European customers.
CIGS thin-film technology is regarded highly promising. However, volumes were not high enough in the past to allow for profitable production. Through Hanergy’s involvement, the CIGS technology can now reach a production volume generating competitive product prices. As Hanergy plans to become a globally leading producer of thin-film solar modules, Solibro also complements their own portfolio in an ideal way.
Incorporated in 1994, Hanergy Holding Group Limited is headquartered in Beijing and has subsidiaries in China, USA, UK, Italy, Netherlands, the Czech Republic, Singapore and Hong Kong. As China’s largest privately owned provider of renewable energy, Hanergy has an installed hydroelectric capacity of 6,000MW. Hanergy has also invested in solar thin-film R&D and production bases in order to reach a 3,000MW capacity by the end of 2012. For more information about Hanergy please visit www.hanergy.com.
Based in Solar Valley Thalheim, Germany, Solibro GmbH produces thin-film solar modules using CIGS (copper indium gallium diselenide) co-evaporation technology. Solibro solar modules, currently positioned under the brand name Q.SMART, hold the world record for thin-film modules in serial production since 2009 with efficiencies of up to 14.7 per cent (aperture area). Some 430 employees currently run two factories with a combined capacity of 135 MWp in Thalheim, Germany, as well as an R&D centre in Uppsala, Sweden. In order to significantly expand capacity and thereby reduce costs to industry leading levels, Q.CELLS had been looking for a suitable investor for Solibro for some time. To date Solibro has produced and sold more than 140 Megawatt peak of Q.SMART modules that have been installed in roof-top and utility scale projects for residential as well as commercial and industrial customers.
The Q.CELLS Group is one of the world’s leading photovoltaics companies and offers a wide range of photovoltaic solutions, from solar cells and modules to solar power plants. Q.CELLS’s products are developed and manufactured at its headquarters in Bitterfeld-Wolfen (Germany) and marketed via its global sales network. It also has a second production plant in Malaysia. More than 200 scientists and engineers at Q.CELLS are working to swiftly advance solar technology and achieve Q.CELLS’ twin aims: driving down the costs of photovoltaics quickly and permanently, and making solar power competitive. The close links between R&D and production enable Q.CELLS to rapidly translate cutting-edge innovation into mass production - and underpin its ambition to be at the forefront of photovoltaic technology. Q-Cells SE is quoted in the Prime Standard on the Frankfurt Stock Exchange (QCE; ISIN DE0005558662).
Q-Cells SE i.I.
OT Thalheim, Sonnenallee 17-21
06766 Bitterfeld-Wolfen, Germany
FAX +49 (0)3494 6699.10000
Press contact insolvency administrator at Q.CELLS
TEL +49 (0)221-801087-87
Q.CELLS Corporate Communications
Ina von Spies, Alberta Rohardt
TEL +49 (0)3494 6699 10121
Lawyer Henning Schorisch, insolvency administrator of Q-Cells SE
Executive Board: Dr Nedim Cen (CEO, CFO), Dr Andreas von Zitzewitz (COO, CSO)
Chairman of the Supervisory Board: Prof Dr h c Karlheinz Hornung