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Renewable Energy | August 13, 2013
#37984

First Solar buys stake in GE to share technology

The First Solar Inc has said in New York last week that it is buying a competing thin-film solar panel technology from General Electric Co in exchange for a stake in the company. First Solar will acquire GE's technology for making thin film panels. In return, GE will receive 1.75 million shares of First Solar stock, about 2 per cent of First Solar's outstanding shares.    

GE's thin-film technology has performed well in lab tests, but is not manufactured at large scale. First Solar, based in Tempe, Ariz. will attempt to incorporate GE's technology into its extensive and well-developed manufacturing process.    

GE, based in Fairfield, Conn., will purchase and brand First Solar panels for its own installations. First Solar's panels made of thin metallic films were once far and away the cheapest way to generate solar electricity. First Solar will attempt to incorporate GE's technology into its extensive and well-developed manufacturing process. GE will purchase and brand First Solar panels for its own installations.

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