Norsk Hydro ASA has agreed to divest its non-strategic 20.5% stake in the US solar company Ascent Solar to TFG Radiant Investment Group Ltd for a cash consideration of USD 4 million (NOK 24 million).
After the Vale transaction Hydro has become a fully integrated aluminium company, and the ownership in Ascent Solar is considered non-core. The ownership share has been reduced over the last years and the remaining shares are now agreed sold to TFG Radiant.
The transaction is expected to close during Q1 2012, and a minor loss is expected to be recognized.
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules and is located near Denver in Littleton, Colorado.