SolarWorld AG acquires solar PV activities of Robert Bosch GmbH

The transaction will increase SolarWorld group’s production capacities to more than 1 GW along each of the solar wafer, cell and PV module stages of the solar value chain
The transaction will increase SolarWorld group’s production capacities to more than 1 GW along each of the solar wafer, cell and PV module stages of the solar value chain

On November 27th, 2013 SolarWorld AG (Bonn, Germany) signed an agreement to acquire parts of Robert Bosch GmbH's (Gerlingen, Germany) solar photovoltaic (PV) business, SolarWorld reports in an Ad hoc announcement.

As part of the agreement, SolarWorld will take over a solar PV cell production capacity of 700 MW as well as a PV module production capacity of 200 MW from Bosch Solar Energy AG in Arnstadt, a city in the German state of Thuringia.

 

About 800 workers to further be employed in solar cell and PV module production

In a so-called asset deal, the newly formed SolarWorld Industries-Thüringen GmbH, a 100 percent subsidiary of SolarWorld AG, will take over the major portion of Bosch Solar Energy AG's PV manufacturing plants and other assets.

The Arnstadt site will continue to employ about 800 workers in the solar cell and PV module production. The acquisition will not reduce the financial resources of SolarWorld AG, the company notes in the Ad hoc announcement.

 

PV production capacities to reach more than 1 GW

Once the transaction is completed, the SolarWorld group will have production capacities of more than 1 gigawatt (GW) along each of the solar wafer, cell and PV module stages of the solar value chain.

SolarWorld plans to continue to supply existing cell and module customers of Bosch Solar Energy AG. The production plant for high-performance mono-crystalline cells will complement SolarWorld's technological portfolio. Research and development activities aiming to improve high efficiency solar cells will be pooled to create further competitive advantages for the group and enable further cost reductions.

The transaction is still subject to the relevant antitrust approval as well as further closing conditions. Closing is expected in late February 2014.

 

 

2013-11-26 | Courtesy: SolarWorld AG; Image: Bosch Solar Energy AG | solarserver.com © Heindl Server GmbH

Our editorial selection of breaking solar news is published at:
http://www.solarserver.com/solar-magazine/solar-news/top-solar-news.html