Scheuten Solar, a PV manufacturer based in the Netherlands, says Aikosolar, a China-based PV cell manufacturer that also owns Powerway Renewable Energy, has acquired the ‘essential components’ of Scheuten Solar.
According to the companies, the new partnership is expected to combine the financial strength of Aikosolar with the technological offerings of Scheuten Solar, thus benefiting both firms. Scheuten Solar plans to participate in solar markets worldwide.
The acquisition follows a financially difficult stretch for Scheuten Solar, which filed for suspension of payment to creditors in March, citing the global module-oversupply situation.
In April, Sunway Technology Investment Co. Ltd. entered into an agreement to buy certain assets from Scheuten Solar. These assets included the company's international sales offices and projects business, including development, realization, and operations and maintenance.