Reprinted from Real Estate Daily News
China’s Hanergy now owns Tucson-based Global Solar Energy (GSE). Hanergy’s announcement says “it has completed the equity acquisition of Global Solar Energy, Inc., a manufacturer with the world’s leading copper indium gallium diselenide (also known as CIGS) solar technology, the acquisition follows approval from the Committee on Foreign Investment in the United States and the National Development and Reform Commission, the regulators governing cross-border acquisitions in the U.S. and China, respectively. Global Solar is one of just a few producers able to manufacturer flexible CIGS solar cells on a commercial scale in the world.”
Hanergy did not purchase the 117,000 sq. ft. facility at 8500 S Rita Road in Tucson. It was transferred from Global Solar to Mithril Real Property, Inc., a German-based company owned by Jan-Hendrick Stroher, a former director of Global Solar, for $7.3 million in a non-arm’s length transaction to be leased back to Global Solar at undisclosed terms. The real property includes 117,000 sq. ft. in two buildings (built 1979 and 1995) on 14 acres in southeast Tucson. Global Solar bought the property in 2007 for $6.44 million.
If you’d like to discuss energy issues, contact Court Rich, Co-Chair of Rose Law Group’s Renewable Energy Department at crich@roselawgroup.com
