Manz seeks to supply €263m of PV equipment to Chinese companies
If approved by the Chinese government, German tool maker Manz will supply €263m ($282m) of its copper indium gallium diselenide (CIGS) thin-film production equipment to Shanghai Electric and Shenua Group. In addition, Manz will turn over its R&D subsidiary Manz CIGS Technology to the companies for a 15% share of the joint venture and a payment of €25m. The deal follows Shanghai Electric's initial agreement to take a 30% stake in the German tool maker.
If China has a firm grasp on today’s solar manufacturing, the nation’s companies are ensuring that in many ways they will own the future as well. Yesterday the slow drift of technology from Europe to Asia momentarily accelerated, with German equipment maker Manz AG entering into a R&D joint venture for its copper indium gallium diselenide (CIGS) thin film technology with Shanghai Electric and Shenhua Group, along with a massive tool order.

Through the collaboration Manz, Shanghai Electric and Shenhua will establish a jointly owned R&D company, to which Manz will contribute its current R&D subsidiary Manz CIGS Technology GmbH. Manz will hold a 15% share of the joint venture, and will be compensated by a net amount €25 million.

Additionally, Shanghai Electric and Shenhua have placed orders for €263 million worth of Manz’s CIGSfab turnkey CIGS production lines. Pending approval by the Chinese government, these orders will show up in revenues in 2017 and 2018.

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This is the latest cooperation between Manz and Shanghai Electric, which entered into an agreement in February to take a 30% stake in the German tool maker.