Cencorp Corporation (Virkkala, Finland) has completed the acquisition of Sunweb Solar Energy Holding BV's (Geldorp, The Netherlands) solar photovoltaic (PV) module business, for a price of EUR 930,000 (USD 1.3 million).

The purchase includes Sunweb's pilot PV production line, the Sunweb trademark, as well as patents and other intellectual property rights. Cencorp states that the acquisition strengthens its plans to develop PV module manufacturing in Finland.

"The Sunweb Solar acquisition strengthens Cencorp’s competencies and intellectual property rights in the photovoltaic module business," notes Cencorp CEO Iikka Savisalo.

"This transaction together with the TEKES (The Finnish Funding Agency for Technology and Innovation) funding, published 20 December 2012, will accelerate development work aiming at manufacturing and implementing a photovoltaic module production line, based on Cencorp's own layout, in Finland."

Plans to produce PV modules in 2014

Cencorp states that its new factory will likely be located in either Mikkeli or Salo, Finland, and the company expects the facility to be ready in early 2014, with its first orders anticipated in 2013.

Cencorp notes that the Sunweb acquisition is part of its new strategy to focus its operations in the development of clean technology applications, and the company notes that it has developed a fully automated production concept for PV modules.

Cash, shares paid for Sunweb

For the purchase of Sunweb, Cencorp paid with a combination of 4 million shares, valued at EUR 480,000, as well as EUR 450,000 in cash. Sunweb has agreed not to sell its Cencorp shares before December 31st, 2013.

Cencorp to begin backsheet deliveries in China

Cencorp has also announced that it will commence conductive backsheet deliveries to an un-named Chinese solar photovoltaic (PV) module manufacturer in the first half of 2013. Components will be manufactured at Cencorp's Beijing plant.

2013-02-01 | Courtesy: Cencorp | solarserver.com © Heindl Server GmbH

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