- Clinches USD 10 million distribution agreement with TSG for its double glass HanTile product - Expands its renewable energy portfolio to accelerate growth in Malaysia market
March 14, Beijing - The world's largest thin-film solar power solution company, Hanergy Thin Film Power Group (00566.hk), announced on March 8th that it has inked a strategic cooperation agreement with TSG (Tenaga Switchgear), the holding subsidiary of TNB (Tenaga Nasional Berhad) to appoint TSG as an exclusive distributor for the company's innovative HanTile product in the Malaysian market.
Under the aegis of the agreement, both parties will collaborate to elevate the sales of Hanergy's pioneering BIPV product, double glass HanTile in Malaysia market. On the financial implication of the agreement, TSG will purchase double glass HanTile valued 10 million USD.
The signing ceremony was held in Kaula Lumpur. Mr. Datuk Hisham, President of TSG, Mr. Ts. Hisham, general manager of TSG, Mr. Lyu Yuan, Vice President of Hanergy Thin Film Power Group, Mr. Gui Zhi, CEO of Hanergy Malaysia Branch attended this ceremony where TSG was officially pronounced as an exclusive distribution agency for HanTile in Malaysia market.
TSG is one of the leading utility solution companies in Malaysia that dedicated in the new energy industry under Malaysia TNB Group. Likewise, the mother company TNB is a renowned electricity utility company in Malaysia, also the major listed electricity company in Southeast Asia, the stock market capitalization ranks second in Malaysia.
Mr. Lv Yuan, Vice President of Hanergy Thin Film Power Group said, "We see a great potential in Malaysia market, which is also a strategic market for Hanergy. We're confident that our collaboration with TSG and our robust expansion plan in Malaysia market as well as the deeper understanding of the sector will help us pump-up the demand for our range of thin-film solar products."
Furthermore, during the signing ceremony, two parties also reached a consensus that in the near future, the duo will discuss about the cooperation on HanWall, and the possibility of setting-up a thin-film solar industrial park in Malaysia.
Mr. Datuk Hisham, President of TSG said, "We're thrilled to work with Hanergy and utilise its expertise in thin film power sector to revolutionise Malaysia's photovoltaic market. We have great confidence in Hanergy's double glass HanTile product and we're sure that we'll win accolades collaboratively in this sector."
"The purchased products will be mainly used for the construction of high-end villas to help build Malaysia's smart cities and smart home project. Back in December 2018, TSG purchased 3kw of HanTile for Cyberjaya pilot project, and the performance of electricity generation was excellent. So we've signed the agreement with Hanergy today. TSG will be an exclusive distribution agency for HanTile in Kuala Lumpur, Selangor and Penang," he added.
It is expected that in the finance budget 2019, Malaysia government will use 2 billion ringgits (approximately USD 480 million) to aid the development of green technology. According to Malaysia renewable energy development goals, by 2025, renewable energy will account for 20% of the total energy consumption (excluding hydropower), while renewable energy now accounts for only 2% of the total energy mix. Under the plan, Malaysia will need to add 4 GW of renewable energy over the next seven years.
First launched in 2017, HanTile perfectly combines one of the world's most efficient solar chips and the aesthetics, while bringing a greener life to the traditional buildings. In 2018, with the debut of the single glass layer HanTile, Hanergy further lightened the weight and extended the product application scenarios. Further, HanTile has also been a globally certified product, bagging certifications like China's 3C certification and CQC certification, Germany's TÜV Rheinland certification, US and Canada's UL certification and EU's CE certification.
Hanergy's solar cells set the world record for conversion efficiency several times, with the newest one being 29.1%. It launched and upgraded handful of consumer products in 2018, including Humbrella, solar-powered umbrella; SolarTank, solar backpack; HanPower, solar power bank; retaining its leading position in mobile energy sector. Subsequently, with the debut of HanTile in April and HanWall in September 2018, Hanergy upped-the-ante in global building-integrated PV segment.
Constant breakthroughs in the sector have led to steady surge in Hanergy's market value. Further, Hanergy's "mobile energy +" model is well in place to promote in-depth integrations of mobile energy and traditional industries.
About Hanergy Thin Film Power Group Ltd:
Hanergy Thin Film Power Group Ltd (0566.HK) is a Hong Kong-listed company, and a subsidiary of Hanergy Holding Group Ltd. As one of the leading thin-film solar companies in the world, Hanergy Thin Film Power Group Ltd is committed to "Building Mobile Energy". Since 2009, Hanergy has been working relentlessly to integrate worldwide solar technologies, and making a robust investment in research and innovation in the field of thin-film solar power. Thin film solar technologies have been applied to a series of commercial and non-commercial products, including HanTile, HanWall, Humbrella, HanPack and HanPower.