“BEIJING (Reuters) – Chinese clean energy generator Hanergy Holding Group Ltd on Wednesday said it has broadened its solar power technology portfolio with the purchase of Alta Devices Inc, a California-based developer of thin-film solar cells.
The acquisition comes a year after Hanergy bought Arizona-based Global Solar Energy Inc, which in turn followed the purchases of Silicon Valley start-up MiaSole and Germany’s Q Cells AG [QCEG.UL] subsidiary Solibro GmbH.”
The tabled projects, first reported earlier this week by Pacific Business News, include a farm of solar panels that would have spanned almost five acres, supplying as much as 1 megawatt of electricity to the local utility. Chevron also shelved a demonstration solar thermal project, which would have covered about 15 acres and used mirrors to generate steam to help power the Hawaii refinery.
In recent months, Chevron, the second-biggest oil company in the U.S., has quietly been pulling back from renewable-energy endeavors, despite a long-promoted commitment to develop what its corporate website calls “newer, cleaner ways to power the world.”
China has bet on solar energy as a cleaner alternative to coal, but whether installed solar panels can meet the country’s need for energy is becoming a troubling question.
China had installed nearly 19.5 gigawatts of solar panels as of the end of 2013. However, “many solar installations failed to generate as much electricity as planned,” said Ji Zhenshuang, deputy director at the Beijing-based China General Certification Center, which examined 472 Chinese solar projects over the past four years.