Hanergy, China's largest private clean energy enterprise, has acquired MiaSolé, a US solar energy company, according to information released at Hanergy's Beijing-based headquarters on Jan 11.

The acquisition enables Hanergy to obtain CIGS technology that boasts the highest conversion rate in the world, becoming a leading company in the thin-film solar panel production industry. CIGS stands for copper indium gallium selenide. It is a semiconductor material that is widely used in industrial sectors.

"The acquisition is a milestone for Hanergy's development," said Li Hejun, board chairman of the company. "Hanergy is now at the frontier of the world's thin-film solar power technology development."

Thin film is a pollution-free, efficient technical application in building-integrated photovoltaics (BIPV) and other areas.

MiaSolé, headquartered in Santa Clara, California, is a leading manufacturer of thin-film solar panel components. It has a market value of over $2 billion. The conversion rate of its thin-film photovoltaic components is 15.5 percent and is expected to reach over 17 percent by 2014. It also aims to lower its production cost to $0.5 per watt.

Hanergy's production capacity of thin-film solar panels has reached 3GW. This is well above that of US company First Solar, making Hanergy the world's largest thin-film solar panel manufacturer. The acquisition of MiaSolé will complement its technological advantages.

MiaSolé will be run as Hanergy's wholly owned subsidiary.

Edited by Chen Zhilin and Michael Thai