First Solar to Acquire TetraSun
TEMPE, Ariz., and SAN JOSE, Calif., April 10, 2013 — First Solar Inc. has signed a definitive agreement to acquire solar photovoltaic technology startup TetraSun from JX Nippon Oil & Energy Corp. and other investors, including TetraSun management, for an undisclosed amount.
TetraSun’s proprietary cell architecture delivers conversion efficiencies exceeding 21 percent, with commercial-scale manufacturing costs comparable to conventional multicrystalline silicon solar cells. The design enables high-volume production with higher yields using readily available equipment. Cost-effectiveness is further enhanced by using large-format (156 mm) n-type wafers and eliminating the need for expensive silver and transparent conductive oxide. The technology also benefits from a low temperature coefficient of power, which produces better energy yields in hot climates compared with typical silicon PV modules.
First Solar is acquiring TetraSun, which has developed a breakthrough cell architecture capable of conversion efficiencies exceeding 21 percent with commercial-scale manufacturing costs comparable to conventional multicrystalline silicon solar cells. Courtesy of BusinessWire.
First Solar CEO Jim Hughes said the technology will unlock the half of the PV market that favors high-efficiency solutions, to date unserved by First Solar. “This new capability to meet the needs of customers with distributed generation applications, coupled with our leading CadTel offering, which remains the benchmark for utility-scale systems, gives us a unique end-to-end suite of solutions to serve the full spectrum of commercial applications.”
TetraSun’s 14 associates will join First Solar and continue operations in San Jose.
First Solar and JX Nippon also have entered into discussions on an agreement to distribute the technology in Japan.
“Japan is an important market with unique energy challenges, and we believe this new technology is well suited to help them meet their energy needs,” Hughes said.
The transaction is expected to close in this quarter, with commercial-scale manufacturing set to begin in the second half of 2014.
For more information, visit: www.firstsolar.com
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