Hanergy takes first steps in US downstream market - SolarStar

Thin-film manufacturer  Hanergy  has made its first move into the US downstream market with the acquisition of a 19MW project in Pittsburg, California.

According to a statement made to the Hong Kong stock exchange, the company has purchased the early-stage solar farm from Delaware-based LSP Generation Holdings.

Hanergy panels will now be used for the installation.

“Through the development of the project, the group can realise its strategy of building a global thin-film photovoltaic platform that delivers new and advanced solar technology to its customers all over the world,” the statement read.

A 20-year power purchase agreement (PPA) was already in place and is expected to start operations in November 2014.

The move will put Hanergy and First Solar in direct competition for downstream business in the latter’s domestic market.

Hanergy declared its intentions to move into the downstream market in April this year.

It has also struck a distribution deal with furniture retailer IKEA for its panels in the UK that could be expanded to other markets.