Beijing, April 16, 2015 -- Hanergy Thin Film Power Group Ltd. (00566.HK, “Hanergy Thin Film”) today in Beijing signed an investment cooperation agreement with Huangpi District Government of Wuhan, Hubei Province, to invest in a 10MW Gallium Arsenide (GaAs) thin-film solar cell R&D and manufacturing facility in Huangpi Linkong Industrial Park. Upon completion, the facility will be the world’s largest GaAs production base. The first phase of the project will include a 3MW production line, for which Hanergy Thin Film will establish a project company.
Hanergy’s GaAs flexible thin-film solar cell technology leads the world
The project is the first GaAs thin-film solar cell R&D and manufacturing project constructed by Hanergy Thin Film in the Chinese mainland after it acquired U.S. thin-film solar technology company Alta Devices on January 27, 2015
Besides constructing factory buildings for lease by the project company, the Huangpi District Government will promote Hanergy Thin Film’s solar products in the local market, with plans to install 100,000 sets of household thin-film arrays and 20,000 mu (1,333 hectares) of photovoltaic agricultural greenhouses, or to reach 600MW of installed solar capacity within two years after the agreement takes effect. This will advance Wuhan’s efforts to develop green energy and build itself into a green, low-carbon city.
Hanergy’s GaAs flexible thin-film solar technology leads the world
Hanergy Thin Film is the world’s largest, most technologically advanced thin-film solar enterprise. Its flexible GaAs technology has a conversion efficiency of 30.8%, the highest among the solar energy technologies currently available in the world, as certified by the National Renewable Energy Laboratory (NREL) of the U.S. Department of Energy. The GaAs solar cells manufactured by Hanergy Thin Film, which boast not only high energy efficiency but also great flexibility, can be widely applied in many products from solar cars and phones to unmanned aircraft systems and IoT systems to extensive consumer electronics.
The Linkong Industrial Park is located to the north of Wuhan City’s downtown and surrounded by Wuhan Tianhe International Airport, Wuhan North Marshalling Station (the largest railway marshalling station in Asia), and the Yangtze River Golden Waterway. With an efficient land, air and water transport network and comprehensive urban infrastructures and supporting services, the industrial park provides excellent living conditions for industrial workers.
About Hanergy Thin Film
Hanergy Thin Film is the world’s leading thin-film solar technology enterprise. It is mainly engaged in the research and development and design of large-scale thin-film solar turnkey production lines, as well as the development and operation of downstream solar power projects and application products. On November 27, 2013, Hanergy Thin Film was included in Morgan Stanley Capital International (MSCI) China Index. The Company is the No.1 solar thin film turnkey line provider in the world by scale and by profitability, having delivered about 2,000MW production lines. In 2013, the Company recorded a net profit of HKD2.06 billion, enjoying a remarkable growth of 57.2% year-on-year. Hanergy Solar places technology advancement as its top priority and is equipped with strong R&D capabilities, with a focus in advanced thin-film technology applied in flexible substrates. Hanergy Thin Film’s CIGS solar cells have reached a conversion efficiency of 20.5% under the guidance of a world-class thin-film solar energy expert team. In February 2014, Hanergy Thin Film acquired 100% interest of Hanergy UK and currently sells “Hanergy” branded thin-film solar photovoltaic equipment through IKEA UK directly. In May 2014, Hanergy Thin Film formed a strategic partnership with Tesla, a US electric vehicle maker, for the construction of PV Supercharger stations in China.