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China Sunergy buys module makers for USD47m
By
Editorial
Fri Mar 19 2010, 10:47 AM
Nanjing-based solar cell maker China Sunergy is paying China Electric Equipment Group (CEEG) USD47m to acquire two solar module manufacturers. The firm says the acquisitions will enhance its position in the downstream photovoltaic market by bringing polycrystalline module production in-house.
Deal Details
- Status completed
- Amount US$47m
- Buyer China Sunergy
- Seller China Electric Equipment Group (CEEG)
The manufacturers, CEEG Solar Science & Technology and CEEG New Energy, have annual production capacities of 150MW and 70MW respectively. By the middle of the year, CEEG Solar plans to increase its capacity to 300MW, while CEEG New Energy is targeting a capacity of 170MW.
