GS-Solar to acquire Panasonic’s solar panel business in Malaysia

GS-Solar, a China based solar panel manufacturer, has entered into an agreement with Japan’s Panasonic Electronics Corporation to acquire Panasonic Energy Malaysia, a solar manufacturing subsidiary of Panasonic, cites source. Reportedly, GS-Solar expects to establish a new firm in collaboration with Panasonic, along with the acquisition in which GS-Solar will hold 90% share and Panasonic will hold the remaining 10%. Details including the name, establishment date and investment amount for the new firm, are undisclosed as of yet. The new firm is to focus on the research & development of HIT technology and is planned to be set up in Japan. Both the companies are expected to invest and operate the new firm. The alliance will assist Panasonic to optimize the production capability and development of photovoltaic business along with continued procuring and selling of photovoltaic modules produced at the Malaysian factory, said the company in a statement, reports source. As per credible sources, GS-Solar is planning to incorporate Panasonic’s innovations and manufacturing technologies in the HIT field to advance heterogenous technology which is expected to develop the energy industry. In addition, the new alliance would assist GS-Solar to initiate large-scale expansion of next-gen heterojunction technologies on a global level. Panasonic and the new firm seek to provide technical support for its factories in Japan and the US. Panasonic plans to mobilize energy storage technologies, emergency power storage systems and home energy management systems along with other new energy resources, as a part of business with GS-Solar. Panasonic’s active involvement in activities to support the development of advanced heterojunction technologies, is expected to improve their product competitiveness, reports source. According to sources familiar with the knowledge of matter, Panasonic is also planning to invest in areas of common development including ZEH- Zero Energy Consumption buildings and application of other energy related products. Source credits: https://www.compelo.com/energy/news/gs-solar-panasonic-partners/ http://www.xinhuanet.com/english/2019-05/13/c_138055457.htm