DGAP-News

Manz AG: Orders amounting to EUR 263 million for turnkey lines and strategic cooperation mark breakthrough in CIGS thin-film solar business - Seite 2

Dieter Manz, CEO and founder of Manz AG, is pleased: "This cooperation is absolutely outstanding in the solar industry worldwide. We were always convinced of the superiority and potential of our CIGS thin-film technology since CIGS modules from Manz already offer the lowest electricity generation costs in comparison to the crystalline silicon technology. Today's agreements mark the breakthrough in our solar business. Our confidence in our excellent engineering know-how will now pay off."

In order to further commercialize and develop Manz CIGS thin-film technology, the three partners - Shenhua, Shanghai Electric and Manz - agreed combining their strengths in the area of power generation, large-scale equipment manufacturing and world-leading technology. Shenhua Group, the largest coal enterprise in China and the largest coal supplier in the world, teamed up with Shanghai Electric, anchor investor of Manz AG and leading equipment supplier in China for power generation, to cover know-how through the entire value chain of renewable power generation from CIGS solar modules. Manz AG has exclusive access to the world record for CIGS thin-film solar cell efficiency on glass at 22.6% thanks to its longstanding and exclusive collaboration with the Center for Solar Energy and Hydrogen Research of Baden-Wuerttemberg (ZSW). Moreover, Manz already runs one of the largest and most experienced R&D teams in the field of CIGS worldwide at its location in Schwaebisch Hall.

R&D Joint Venture: Unique alliance for development of CIGS thin-film technology


With today's signing, the companies laid the foundation for a unique R&D Joint Venture that will become the world-leading research company dedicated to the CIGS thin-film technology. The R&D Joint Venture will leverage the potential of CIGS for further efficiency increase and reduction of manufacturing costs. With the objective to further accelerate the R&D process, a R&D line will be installed in Beijing in addition to the existing one of Manz in Schwaebisch Hall. Therefore, Manz AG will deliver a 44 MW line to the joint venture. The current R&D entity for CIGS from Manz AG, the Manz CIGS Technology GmbH, will be aquired by the new R&D JV for EUR 50 million. In return, Manz becomes shareholder of the Joint Venture with 15%for an amount of EUR 25 million. The remaining shares are held by affiliated subsidiaries of Shenhua Group and Shanghai Electric.