Construction News

Sun June 13 2021

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Chinese takeover for UK solar installer

15 May 13 UK solar power company Engensa has been acquired by China’s largest clean energy company, Hanergy.

The purchase price was not disclosed.

The acquisition of a domestic installer by a solar manufacturer was described as “a global first”.

Hanergy is the world’s  third biggest thin-film solar PV manufacturer following two recent acquisitions.  In 2012, Hanergy acquired Solibro, the thin-film solar business belonging to Germany’s Q-Cells, as well as Miasole, a venture capital backed, Silicon Valley based manufacturer.

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Toby Darbyshire, former CEO of Engensa and now co-CEO of Hanergy Solar UK Ltd said: “We are exceptionally proud of what the Engensa team has accomplished in building one of the largest UK home energy companies – but we are even more excited about what we can now achieve with Hanergy building a platform for their European B2C business.”

Engensa co-founder Dr Toby Ferenczi , who is also co-CEO of Hanergy Solar UK Ltd, added: “Thin-film solar PV is very well placed to succeed in future due to its lower manufacturing costs, enhanced appearance and because it is not subject to any of the recently proposed import tariffs.  Our partnership with Hanergy is exciting because it is one of the first major attempts to exploit this technology in the residential market.”

Hanergy Solar chairman and CEO Jason Chow said: “Engensa brings a uniquely talented management team and unparalleled expertise in the residential solar market to the Hanergy global family.  As the centre of our residential expansion we are delighted that they will be bringing the revolutionary Hanergy thin-film technology into thousands of homes across the world and changing how families think about and consume electricity.”

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