Hanergy

Hanergy Holding Group Ltd.
Company type	Private
Industry	Renewable energy, Thin-film solar industry
Predecessor	Yuancheng Pulisen Investment Co., Ltd; Hetaihe Economic and Trade Development Co., Ltd.; Huarui Group
Founded	September 1, 1989; 37 years ago in Beijing, China
Founder	Li Hejun
Headquarters	Beijing, China
Area served	China, Americas, Europe, Middle East, Asia-Pacific, Africa
Key people	Li Hejun (founder; former chairman)
Products	Photovoltaic equipment, thin-film photovoltaic modules, electrical energy production
Number of employees	15000+

Hanergy Holding Group Ltd. (referred to as Hanergy) is a Beijing-based Chinese multinational corporation focused on the thin-film solar industry, covering manufacturing and the development of solar parks. The firm also owns the Jinanqiao Hydroelectric Power Station and operates two wind energy farms. Established and led by Li Hejun, Hanergy serves a broad international market including China, the Americas, Europe, the Middle East, Asia-Pacific, and Africa. Its principal offerings comprise photovoltaic equipment, thin-film photovoltaic modules, and electrical energy production. Additionally, Hanergy provides services such as constructing photovoltaic power plants, wind farms, and hydroelectric power facilities. The company employs more than 15,000 personnel and oversees subsidiaries like Hanergy Thin Film Power, Hanergy Mobile Energy, Miasolé, Solibro Hi-Tech, Solibro Research, Global Solar Energy, and Alta Devices.

History

Founded in September 1989 by Li Hejun, Hanergy began as Yuancheng Pulisen Investment Co., Ltd, later rebranded as Hetaihe Economic and Trade Development Co., Ltd. and then Huarui Group before adopting the name Hanergy Holding Group in August 2008.

Initially concentrating on electronic components, Hanergy ventured into hydroelectric power in 2000 with the Guangdong Mujing Hydroelectric Power Station (30 MW capacity). The company obtained rights to operate nine additional hydroelectric stations in Yunnan province, though it retained ownership solely of the Jinanqiao Hydroelectric Power Station. Expansion into wind power occurred with the launch of the Ningxia Helanshan Wind Farm in 2003 and followed by Jiangsu Rudong Wind Farm in 2006.

In 2009, Hanergy pivoted towards the thin-film solar sector by setting up a research and development center in Beijing. The following year, it acquired a majority stake in Hong Kong-listed Apollo Solar Energy Technology Holdings Ltd., which merged with Hanergy New Energy Research and Development in 2012 to become Hanergy Solar Group, Ltd., later renamed Hanergy Thin Film Power Group, Ltd. Between 2012 and 2014, Hanergy expanded by acquiring several thin-film solar technology firms: Solibro from Q-Cells, U.S.-based MiaSolé, Global Solar Energy, and gallium arsenide specialist Alta Devices. In 2015, it founded Solibro Hi-Tech GmbH and Solibro Research AB but exited from Solibro GmbH, which subsequently filed for insolvency in 2019.

Hanergy broadened its market presence through various collaborations: a 2012 deal with IKEA to distribute copper indium gallium selenide (CIGS) rooftop photovoltaic systems in the UK that later extended to the Netherlands and Switzerland; however, this alliance ended in 2015. Other strategic partnerships included a photovoltaic agreement with FAW-Volkswagen (2013), providing thin-film solar technology to Tesla’s charging infrastructure (2014), and collaborations with Aston Martin Racing and the Beijing ePrix on solar-powered automotive projects (2014). In 2015, it teamed up with Guangqi Honda to install 17 MW of distributed photovoltaic systems on factory rooftops.

In May 2015, shares of Hanergy Thin Film Power plummeted by 47%, resulting in suspension from trading on the Hong Kong Exchange amid an investigation by the Securities and Futures Commission. The suspension persisted after regulatory restrictions prevented relisting. Hanergy announced intentions to privatize and relist on mainland China’s stock market in 2018; ultimately, it was delisted from Hong Kong in June 2019. Legal rulings confirmed the sale of mortgaged assets related to Jinanqiao Hydroelectric Power Station with a Hanergy affiliate preparing a bid.

Subsequent partnerships featured installing solar panels on Dutch football club AZ Alkmaar’s stadium (2015), supplying photovoltaic modules for bike-sharing services such as Mobike, MTbike, and 99 Bicycle starting in 2017, and collaborating with BAIC Group to develop vehicle-integrated thin-film solar panels alongside smart charging stations (2017). In automotive innovation efforts, Hanergy worked with Audi (2017) to incorporate solar cells into panoramic glass roofs for electric vehicles and partnered with Bolloré (2018) on solar-powered electric vehicles. The company also extended cooperation to aerospace projects with Boeing on unmanned aerial vehicles (2018) and NASA on solar-powered ThinSats for atmospheric studies (2019).

Leadership transitions occurred in April 2019 when founder Li Hejun stepped down as chairman and director, transferring his shares to his sisters who now hold controlling interest.

In 2019, new strategic alliances were formed including supplying CIGS flexible solar panels for DHL’s commercial fleets in the UK and Germany; co-developing solar backpacks with Deuter Sport; partnering with the U.S. Green Building Council to promote thin-film solar integration within green building initiatives; and collaborating with TAM-Europe to produce solar-powered airport shuttle buses.

In January 2020, Solibro Hi-Tech GmbH filed for insolvency.

Solar energy

Hanergy concentrates on the thin-film solar sector, encompassing the production of solar modules and equipment, as well as the development of solar farms. The company advances technologies such as copper indium gallium selenide (CIGS), gallium arsenide (GaAs), and silicon heterojunction thin-film solar cells. Serving as an original equipment manufacturer, Hanergy supplies thin-film components to the automotive industry, collaborating with brands including Audi, FAW-Volkswagen, Guangqi Honda, Tesla, Bolloré, and domestic enterprises like BAIC. Additionally, it partners with organizations such as NASA, Boeing, DHL, Ikea, and Deuter Sport to create solar-powered products.

For sustainable construction, Hanergy markets its HanTile and HanWall product lines. The initial HanTile generation incorporated double glass layers and was available in two variants: the Double-Glass Triple-Arch Series (30 W output) and the Double-Glass Spool Series (11.5 W), both utilizing CIGS thin-film solar technology. The latest HanTile model features a single glass layer design, resulting in a slimmer, more adaptable, and lighter product. HanWall offers building-integrated photovoltaic solutions in two distinct models.

The company also develops portable energy solutions such as Humbrella, HanPack, and HanPower. The Humbrella combines CIGS thin-film solar panels with a 9,600 mAh battery; its upgraded version, Humbrella Side, includes a side pole structure and a larger 25,200 mAh battery capacity. HanPack solar backpacks are equipped with CIGS thin-film solar modules ranging from 6.14 W to 9 W. The HanPower Plus-In is a mobile charging device that integrates a 12 W thin-film solar panel with conventional battery storage and features a magnetic connection for continuous wired or wireless charging.

Other operations

Apart from its focus on solar technologies, Hanergy possesses an installed hydropower capacity exceeding 6,000 MW and wind power capacity totaling 131 MW.

Locations

Hanergy's main office is situated in Beijing Olympic Park. It operates research and development centers in several locations including Beijing, Chengdu, Changzhou (China), Silicon Valley and Tucson (USA), Berlin (Germany), and Uppsala (Sweden). Its manufacturing plants are distributed across various Chinese cities such as Heyuan, Wujin, Shuangyashan, Yucheng, Tangshan, Jiujiang, Haikou, Nanjing, Shuangliu Airport, and Changxing; additional production facilities exist in Silicon Valley and Tucson (USA), as well as Thalheim (Germany).

Subsidiaries

Solibro Hi-Tech, a subsidiary of Hanergy headquartered in Thalheim, Germany with a research facility in Uppsala, Sweden, specialized in producing glass-based CIGS thin-film solar modules.

MiaSolé focuses on flexible CIGS solar cells and related manufacturing equipment. Its laboratory-scale cells achieved an efficiency of 19.4%, while its commercially available flexible modules set a global record with 17.44% aperture area efficiency.

Global Solar Energy manufactures lightweight and portable flexible CIGS photovoltaic modules designed for applications in building-integrated photovoltaics, consumer products, electronics, and automotive industries. Its flexible CIGS cells reached an efficiency of 19.3%.

Alta Devices was a California-based producer of gallium arsenide photovoltaic cells acquired by Hanergy in 2013. It held world records for single-junction and dual-junction solar cell efficiencies at 29.1% and 31.6%, respectively. Nevertheless, Alta Devices was shut down in 2019 along with other Hanergy-owned solar manufacturing units.

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