KUALA LUMPUR: Japanese multinational electronics corporation Panasonic Corp has reached an agreement with GS-Solar (China) Company Ltd to collaborate in the photo-voltaic business which will see the firm transfering its solar manufacturing subsidiary, Panasonic Energy Malaysia, to the latter.
Under the agreement, Panasonic said it will also separate its photo-voltaic research and development function to establish a new company with the Chinese partner.
Panasonic and GS-Solar will jointly operate and invest in this new company in Japan, it added.
Through this agreement, Panasonic said it will be able to optimise the development and production capability of its photo-voltaic business while continuing to procure and sell photo-voltaic modules produced at the Malaysian factory.
“The companies have come to this agreement as they aim to drive further development of heterojunction photovoltaic technologies through the sharing and utilisation of their respective technologies and production know-how.
“This collaboration will allow the introduction of high added-value photovoltaic modules to a market which is expected to grow on a global scale,” it said in a statement.
GS-Solar, based in Quanzhou, Fujian, is a photovoltaic module manufacturer engaging in research, development and manufacture of heterojunction photovoltaic modules and is recognised for its technological achievements.
Capitalising on resources created through these activities, Panasonic said will integrate its solar business into the energy solutions business, which offers a combination of home energy management system, photovoltaic modules, storage batteries, Eco Cute heat pump systems, electric vehicle chargers among others.
Additionally, it said Panasonic will be contributing to the proliferation of net zero energy house, new energy management systems for the post feed-in tariff era, and emergency storage power systems for natural disasters.
“Most importantly, the newly established company will be committed to driving the competitiveness of its PV business through further innovation at heterojunction technologies,” Panasonic said.
After the transfer, the balance of Panasonic‘s solar manufacturing operations remain unaffected by the agreement with GS-Solar, it added. This includes operations In Japan and the United States.