Hanergy acquires US solar cell firm

Privately held renewables company Hanergy Holding Group Ltd, headquartered in Beijing, announced on Wednesday that it had acquired Alta Devices Inc, a California-based developer of high-efficiency thin-film solar cells.

It is the fourth acquisition by Hanergy in the past two years, which shows the company's determination to bring the latest technology into production, said Li Hejun, chief executive of Hanergy, without disclosing the value of the deal.

Hanergy reportedly bought all of Alta to strengthen its position in China's solar technology market, and to bring its thin-film solar technology to other sectors in addition to solar power stations.