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GE, First Solar Announce Solar Technology and Commercial Partnership


08/6/2013 3:00PM
  • Partnership accelerates thin-film solar technology development
  • GE takes equity interest in First Solar
  • Existing scale and manufacturing capabilities of First Solar, combined with both companies’ complementary technologies, will enable increased efficiency, cost competitiveness
  • Inverter, balance of plant commercial partnership to improve solar grid integration and connection

GE and First Solar announced a technology partnership to advance thin-film solar cells and modules. First Solar has acquired GE’s global cadmium telluride (CdTe) solar intellectual property portfolio, setting a course for significant advancement of photovoltaic (PV) thin-film solar technology. GE received 1.75 million shares of First Solar common stock as part of this transaction. GE has agreed to retain the shares for at least three years.

The combination of the two companies’ complementary technologies and First Solar’s existing manufacturing capabilities are expected to accelerate the development of cadmium telluride (CdTe) solar module performance and improve efficiency at manufacturing scale. In addition, GE Global Research and First Solar R&D will collaborate on future technology development to further advance CdTe solar technology.

GE, which has 34GW of renewable energy installed globally, will enhance its presence in solar through access to purchasing and branding First Solar’s modules for future global GE deployments, in addition to its investment in inverters, controls, balance of plant and ownership of utility scale systems

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Source: Business Wire

 

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