This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Chinese Buyer Says Solar Firm MiaSole Will Expand

Li said the MiaSole acquisition was paid for out of cash flow from Hanergy's hydro and wind energy businesses of several billion yuan (several hundred million dollars) a year.

"We don't have to worry about money," he said.

MiaSole and Solibro make thin film of a compound called CIGS, for the metals copper, indium, gallium and selenide. It can be sandwiched between sheets of glass that can be used as tinted windows on a building or integrated into flexible material for use on rooftops.

MiaSole shipped thin-film glass panels with a total generating capacity of 50 megawatts last year and plans to start selling the flexible product this year, said John Carrington, the company's CEO. He said it sees the United States, India, Japan and the Middle East as promising markets.

The company expects to reduce prices to below 50 cents per watt of generating capacity by next year, cheaper than even the current depressed price of silicon cells, Carrington said. He said it eventually wants to cut that to 33 cents.

MiaSole's owners concluded last year it needed a partner that could supply financing and line up generation projects, Carrington said. He said that while prices of solar cells are depressed, developers that can supply completed projects are very profitable.

"The opportunity for us to have a broader offering is very compelling," Carrington said.

Hanergy announced an agreement in September to outfit IKEA stores in Britain with thin-film solar panels. Li said the company is pursuing possible similar deals with retailers in the United States.

As for whether the tie-up with Hanergy might make MiaSole eligible for Chinese research grants or other aid, Carrington said, "It's hard to tell. We're not sure yet."

___

Hanergy Group: www.hanergy.com/locale.do?language=en&country=US

MiaSole: www.miasole.com

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,540.30 -149.56 -0.85%
S&P 500 2,089.95 -13.89 -0.66%
NASDAQ 5,099.5090 -28.7720 -0.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs