Hanergy Holding Group has confirmed that it has acquired Miasole, a US-based solar-power technology company.

The transaction is the Chinese company’s second acquisition of a distressed foreign solar company over the past year, having bought Solibro in June.

  Both Miasole and Solibro specialize in manufacturing thin-film solar cells, which are more efficient than the traditional silicon-based cells manufactured by most competitors.

  Hanergy’s statement didn’t specify the amount that it paid for Miasole but speculation is that the acquisition was made for far less thatn the peak valuation of $1.2bn Miasole reached in 2008.

  “Hanergy expects with additional investment and commercial execution that Miasole’s value will exceed $2bn,” it said in the statement, without elaborating.

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