Energy company moving into solar

The Chinese energy group Hanergy Holding Group Ltd agreed on Tuesday in Beijing to acquire all of the shares that Q-Cells SE, a German maker of solar panels, holds in its subsidiary Solibro, a maker of thin-film solar panels.

The purchase comes as the latest evidence of Chinese energy companies' interest in the European market during the current debt crisis.

After the completion of the acquisition, Solibro will increase its yearly production capacity to 100 megawatts in order to supply power to Hanergy customers in Europe. The companies declined to release information about the value of the deal.