We present an indium-free transparent conducting composite electrode composed of silver nanowires (AgNWs) and ZnO bilayers. The AgNWs form a random percolating network embedded between the ZnO layers. The unique structural features of our ZnO/AgNW/ZnO multilayered composite allow for a novel transparent conducting electrode with unprecedented excellent thermal stability (∼375 °C), adhesiveness, and flexibility as well as high electrical conductivity (∼8.0 Ω/sq) and good optical transparency (>91% at 550 nm). Cu(In,Ga)(S,Se)₂ (CIGSSe) thin film solar cells incorporating this composite electrode exhibited a 20% increase of the power conversion efficiency compared to a conventional sputtered indium tin oxide-based CIGSSe solar cell. The ZnO/AgNW/ZnO composite structure enables effective light transmission and current collection as well as a reduced leakage current, all of which lead to better cell performance.