(Yicai Global) May 10 -- Chinese photovoltaic firm GS-Solar is planning to purchase a majority stake in Japanese conglomerate Panasonic's Malaysian solar cell and module assembly plant in Malaysia to manufacture more powerful solar panels.
GS-Solar and Panasonic will set up a joint venture to develop the technology of the heterojunction with intrinsic thin layer solar cell, Sina Finance reported, citing the Osaka-based firm. GS-Solar will own 90 percent of the JV's equity, and the Japanese partner will have the rest. The report did not disclose the size of funding.
Fujian province-based GS-Solar will integrate Panasonic's cutting-edge production systems to promote the high-efficiency HIT technology, the report said. The deal marks the start of GS-Solar's expansion and the global advancement of the technology, it added.
Editor: Emmi Laine