Panasonic announces collaboration and acquisition agreement with GS-Solar

OSAKA, Japan, May 10, 2019 /PRNewswire/ — On May 9, 2019, Panasonic Corporation announced that it has reached a collaboration and acquisition agreement with GS-Solar (China) Company Ltd. in the field of photovoltaic technology. Under the agreement, GS-Solar (China) will acquire Panasonic’s solar manufacturing subsidiary, Panasonic Energy Malaysia, while establishing a new company with Panasonic. With GS-Solar holding a 90% share and Panasonic owning the remaining 10%, the two companies will jointly operate and invest in this new company in Japan, focused on the research and development of HIT technology. On the same day, Panasonic also made another equally important announcement that a joint venture with Toyota Motor Corporation covering the urban development business is formed.

Based on this world-class collaboration, GS-Solar (China) will integrate Panasonic’s cutting-edge innovations and manufacturing technologies in the field of HIT, combining these with its own competencies to drive progress and breakthrough developments in efficient heterojunction technology and set milestones for the development of the energy industry. This collaboration also enables GS-Solar (China) to help start the industrialization and large-scale expansion of next-generation heterojunction technologies on a global scale.

GS-Solar (China), has been specializing in solar cell technology research and development and product manufacturing for more than 10 years, with an aim towards playing a leading role in achieving grid parity. Through this collaboration, GS-Solar (China) will take a leading global position in the field of photovoltaic application with its heterojunction technology. The company’s exceptional technological achievements have been highly commended by Panasonic.

The collaboration will also see Panasonic actively mobilize energy storage technologies, home energy management systems and emergency power storage systems, as well as other new energy resources, to help support the development of advanced heterojunction technologies and improve their product competitiveness. In addition, the company will further integrate the HEMS, PV modules, storage batteries, ECO Cute heat pump systems, and electric vehicle charging solutions. Panasonic will also expand the scope of collaboration with GS-Solar (China), with areas of common development including zero energy consumption buildings (ZEH), the adaption of new energy management systems to the era of feed-in tariff subsidies, and the application of many solar energy-related products and technologies to emergency power energy storage systems for use during natural disasters.