First Solar will be undertaking a new path in the silicon solar panel business with the acquisition of TetraSun, a start up based out of the Silicon Valley. The deal was announced during a conference last Tuesday.
The acquisition marks a shift for Fors Solar towards diversification of its portfolio, which is focused mainly in Cd-Te panels. With the deal, the company would be able to gain its first step in the rooftop solar market.
No terms of the deal were disclosed but the transfer is expected to be completed within the second quarter of 2013.
Initially First Solar's panels were seen to be the cost efficient manner to generate solar power energy despite its inefficiency and its size. The Cd-Te panels cost 20% lower compared to newer and more efficient panels. With the proprietary technology of TeraSun, it is able to be more cost efficient making it more affordable in the long run.
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