Hanergy to Acquire Engensa to Drive Into Domestic Solar Market
- Published: Friday, 17 May 2013 11:18
This ground-breaking deal sets a global first for a vertically integrated solar manufacturer to move directly into the residential solar market – a sector currently worth €12bn per year globally and expected to represent 50% of the global solar industry by 2015.
The acquisition of Engensa, a pioneer of residential financed solar installations will provide Hanergy with one of the highest-calibre teams in the home-renewables sector and provide significant down -stream support for the group which has become the world’s third biggest thin -film solar PV manufacturer following two recent high -profile acquisitions. In 2012, Hanergy acquired Solibro, the thin -film solar business belonging to German solar giant Q - Cells, as well as Miasole, a leading venture capital backed, Silicon Valley based manufacturer.
Toby Darbyshire, former CEO of Engensa and Co -CEO of Hanergy Solar UK Ltd commented, “We are exceptionally proud of what the Engensa team has accomplished in building one of the largest UK home energy companies – but we are even more excited about what we can now achieve with Hanergy building a platform for their European B2C business.”
“Thin -film solar PV is very well placed to succeed in future due to its lower manufacturing costs, enhanced appearance and because it is not subject to any of the recently proposed import tariffs. Our partnership with Hanergy is exciting because it is one of the first major attempts to exploit this technology in the residential market.” - commented former Engensa Co -Founder Dr Toby Ferenczi and Co -CEO of Hanergy Solar UK Ltd.
Chairman and CEO of Hanergy Solar Jason Chow added: “Engensa brings a uniquely talented management team and unparalleled expertise in the residential solar market to the Hanergy global family. As the centre of our residential expansion we are delighted that they will be bringing the revolutionary Hanergy thin -film technology into thousands of homes across the world and changing how families think about and consume electricity.”