GE and First Solar have formed a technology partnership to enhance thin-film solar cells and modules technology.

As part of the partnership, First Solar has acquired GE’s global cadmium telluride (CdTe) solar intellectual property portfolio, while GE received 1.75 million shares of First Solar in return.

This technology partnership is expected to boost the development of CdTe solar module performance and improve efficiency at manufacturing scale.

Commenting on the partnership, First Solar chief executive officer Jim Hughes said that the addition of GE’s PV thin film technology and R&D resources is expected to enhance the company’s technology roadmap.

GE Renewable Energy Business president and CEO Anne McEntee said, "To lead in today’s solar industry, you must have the most competitive technology at the most competitive cost position.

"We’re excited to partner with First Solar to accelerate innovation and bring our complementary technology and R&D to market faster through its manufacturing capabilities."

In addition, GE Global Research and First Solar R&D are expected to partner on future technology development to further enhance CdTe solar technology.