China Sunergy, a solar cell and module manufacturer based in Nanjing, China, has completed the acquisition of 100% of the equity interest of CEEG (Shanghai) Solar Science & Technology and CEEG (Nan Jing) New Energy, both of which manufactures solar PV modules.

Through the acquisition, which has cost China Sunergy approximately $46m, the company has come to possess a total annual module capacity of 480MW.

The acquisition of these two companies that have a sales network within the US, Germany, Spain, Italy, the Czech Republic and Southeast Asia will enhance China Sunergy’s ability to further expand its manufacturing operations and enlarge its customer base.

China Sunergy CEO Stephen Cai said that China Sunergy believes the acquisition will enhance the company’s position in the downstream PV market and advance its commitment to becoming a complete, vertically-integrated manufacturer.