Single wall carbon nanotubes (SWNT) and multiwall carbon nanotubes (MWNT) were linked to thioglycolic acid (TGA)-capped CdTe nanoparticles (NP) through electrostatic interactions producing photoactive superstructures. The novel nanohybrids were characterized both in the ground and excited states with specific accent on electron-transfer chemistry. In fact, both assays provide kinetic and spectroscopic evidence that support a partial transfer of charge density, with rapid formation of microsecond-lived radical ion pair states. Since nanotubes provide a quick transportation route of charge carriers to the electrode, we took this remarkable finding further and constructed photoelectrochemical cells. Photocurrents were generated through the implementation of CdTe and SWNT or MWNT, which serve as excited-state electron donor components and electron acceptors, respectively.