Germany-based SolarWorld buys Bosch Solar Energy
To boost its influence and market share, SolarWorld has now bought Bosch Solar Energy, according to Clean Technica.
The said acquisition will give SolarWorld around 800 employees from the Bosch solar arm. The deal will also give SolarWorld extra manufacturing capacity of 700 MW to increase its solar cell production capacity to more than 1 gigawatt (GW). The company plans to continue supplying energy for the existing customers of Bosch Solar Energy, the report explained.
The transaction is limited to the Arnstadt facility. It does not include other solar assets of Bosch such as Aleo Solar in Prenzlau, the report said.
SolarWorld said the high-performance Bosch power plant will complement its own portfolio. The company also said it would start conducting research and development activities for the improvement of high efficiency solar cells, the report stated.
The terms of the acquisition deal is still unclear, but there are speculations that cash is not involved. Some solar analysts presume that SolarWorld committed to keep the Arnstadt plant running and provide employment for its personnel for a specified duration. Bosch Solar Energy has been losing money for quite some time, Clean Technica reported.