The agreement is the first phase of the Dalian City Industrial Park Project targeting the development of a complex, vertically integrated production center with cumulative PV production capacity of 1GW to be achieved in 10 phases.
The company is in the final stages of its negotiations to acquire 100% ownership of BudaSolar Technologies, a Hungary-based technology company that develops thin film solar module manufacturing technologies, including building integrated PV (BIPV), related equipment, and critical components of turn-key production lines and associated computer software. The parties have agreed on a five year earn out arrangement and believe that their agreement will be finalized within thirty days.
Solar Thin Films develops, manufactures and markets manufacturing equipment for the production of thin-film amorphous silicon PV modules through its subsidiary Kraft Elecktronikai Zrt based in Budapest, Hungary.
