Unnamed investor acquires Nanosolar's German factory

An unnamed Swiss investor has agreed to buy Nanosolar, Inc.’s panel factory in Germany.

Nanosolar GmbH is a highly automated ISO certified module factory in Luckenwalde, Germany, and one of the San Jose, California-based group’s two overseas sites.

The company did not provide financial details of the deal but said that it now planned "to grow the current workforce considerably over the coming months."

Under the new investor, Nanosolar GmbH is restructuring and focusing its operations on two new products: a crystalline silicon (cSi)-based utility panel and a PV product for the residential market.

Nanosolar said the utility panel would be used primarily for PV power plants operated by the Swiss investor and for selected customers demanding high efficiency utility panels made in Germany.

The company is targeting its other PV product at the residential home market. Nanosolar describes it as "a building-integrated, high efficiency PV solution" that "enables high electricity production on a limited space, a high degree of self-consumption and compatibility with smart-grid home systems."

Nanosolar GmbH said it would continue to support existing customers with exchange modules, technical support and service.

"We are very excited about this new strategy for Nanosolar GmbH," said managing director Mirco Boldt. “With our highly automated module manufacturing line and our proven experience of high quality module production we can offer our customers premium products tailored to the new era of grid parity installations."