Manz AG received two bulk orders for copper indium gallium diselenide CIGS thin-film solar module production lines. One for a CIGS production line with a capacity of 306 MW and another for a CIGS R&D line with 44 MW capacity. A newly established R&D joint venture placed the order for the CIGS R&D line.
CIGSfab, a newly established module joint venture of affiliated subsidiaries of Shenhua Group and Shanghai Electric, ordered the CIGS turnkey mass production line.
This CIGSfab production line to be located in Chongqing will be the largest CIGS production line in China and the second biggest worldwide. The installation will begin in 2017 and will be completed in 2018.
Shenhua Group, China’s largest coal enterprise teamed with Shanghai Electric, a leading equipment supplier in China for power generation and an anchor investor of Manz AG.Manz’s deal with the Chinese firms will reportedly cover know-how through the entire CIGS renewable power generation value train.
Manz has exclusive access to the world record 22.6 percent efficient CIGS thin-film solar cells on glass from its exclusive collaboration with the Center for Solar Energy and Hydrogen Research of Baden-Wuerttemberg (ZSW). Moreover, Manz already runs a large and experienced CIGS R&D team at Schwaebisch Hall.
The R&D line will be installed in Beijing in addition to the existing one of Manz in Schwaebisch Hall.
The new R&D JV will acquire the current R&D entity for CIGS of Manz AG, the Manz CIGS Technology GmbH for EUR 50 million. In return, Manz will become a shareholder of the unnamed joint venture with 15% stake. Affiliated subsidiaries of Shenhua Group and Shanghai Electric will hold the remaining shares.
Shenhua Group, Shanghai Electric, and Manz will also establish an equipment joint venture, which will exclusively start sales activities for the CIGSfab in China. Manz AG will be the majority shareholder in the equipment joint venture with a 56% stake, and Shanghai Electric and Shenhua Group will hold the remaining shares.
Within China, the equipment joint venture will also have access to the future research findings of the R&D joint venture and will have exclusive license rights to the future research results from Manz’s collaboration with the ZSW.
Outside of China, CIGSfabs will be sold solely by Manz AG.