First Solar buys GE's CdTe solar technology

Aug 7, 2013 - US solar module maker First Solar Inc (NASDAQ:FSLR) on Tuesday unveiled a solar technology collaboration agreement with General Electric (NYSE:GE) and the acquisition of the US conglomerate's intellectual property related to the cadmium telluride (CdTe) solar technology.

Under the terms of the acquisition, GE will get 1.75 million of First Solar's shares and keep the stock for at least three years.

First Solar will incorporate GE's technologies into its manufacturing process in a drive to speed up the development of CdTe solar modules and boost their efficiency. At the same time, GE will purchase and brand First Solar panels for its own installations. The two companies will also partner on future technology development, aiming to further advance the CdTe solar technology.

"The addition of GE's [photovoltaic] PV thin film technology and R&D resources will advance our technology roadmap, while realizing cost reduction in our manufacturing process," said First Solar CEO Jim Hughes.

Last but not least, First Solar and GE have formed a commercial partnership in the field of solar inverter technology, under which First Solar will buy inverters from GE Energy Management and use them in the development of its solar plants.

GE will abandon the build-out of its Aurora, Colorado, solar manufacturing facility, according to the press release.

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