GREENERGY Holdings Inc. on Thursday said it signed an international distributorship agreement with Hanergy Thin Film Power Asia Pacific Ltd. to sell solar power-related products in the Philippines.
Hanergy is engaged in the business of manufacturing and selling solar power-related products.
Under the agreement, Greenergy is appointed as Hanergy’s distributor in the country for the promotion and sale of all Hanergy solar products such as, but not limited to, the new and innovative Film Flat SOLARtile.
‘The agreement has a term of one year, with an option to renew for another year upon expiration of the original term,’ it said.
Hanergy’s CIGS thin-film solar chips allow a conversion efficiency of as high as 18.7 percent. The Philippines will be just one of a few countries such as Australia, New Zealand, Japan and the United States where Hanergy has allowed the preselling of the Thin Film Flat SOLARtile prior to its global launch later this year.
The exclusive distributorship comes at a time when the Philippines has a shortage of electricity.
Antonio Tiu, chairman of Greenergy, said, ‘this tie-up is very timely, as the company will be in a position to provide immediate solution in the metropolis to the current power crisis by expanding capacity with clean, renewable energy using thin film.’
Greenergy was originally incorporated as MUSX Corp. on January 29, 1992. It was established to engage in the creation, design, development and manufacture of specialty semiconductor products and to market and sell the same to customers worldwide.
In 1999, with the approval of its shareholders, the company became a holding company.
In the latter part of 2010, under a new management, the company began its initiative in venturing into other businesses and divested from the semiconductor business.
One of these business opportunities pertained to the field of renewable energy.
Following the divestment, the Securities and Exchange Commission approved the company’s proposal to change its corporate name to the present one.
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