The debt-saddled developer has turned to another of its state-owned backers to dig it out of a hole as it scrambles to raise $242 million in eight days.

The embattled developer today published what appears to be a sales pitch as it seeks urgent investors ahead of an eight-day debt deadline.

The Chinese manufacturer had to ship a lot more ingots, wafers, cells and modules to secure a modest rise in returns, according to its unaudited 2019 figures.

Panda Green today said delays acquiring the necessary approvals were responsible for holding up its critical HK$1.79 billion lifeline but the deadline for completion had originally been put back to coincide with publication of the results of a debt restructuring proposal which ultimately tempted less than a third of note holders.

Lobby group CEO Walburga Hemetsberger says the plans announced by commission president Ursula von der Leyen this week should place the European solar industry front and center.

President Ursula von der Leyen has outlined plans to fund her Green Deal with a mix of EU, member state and private sector contributions. Now it is over to individual nations and the European Parliament.

The heavily-indebted, Chinese state-owned solar project developer now has ten days to rustle up $242 million after a debt restructuring proposal was accepted by less than a third of its creditors.

The U.S. thin-film manufacturer continues to deny having misled stockholders over solar module defects between 2008 and 2012 and said the settlement had been reached to close the historic legal action and permit the company to remove the uncertainty associated with it.

The developer issued the appeal for developers to come forward on the peninsula after selling its second subsidy-free Spanish solar project. The seller did not reveal how much insurance company Talanx has paid for the Don Rodrigo 2 facility.

IHS Markit has predicted another year of global solar growth but a peek behind the headline figures shows uncertainty dogging the markets of China and India, two of the most important markets and biggest polluters.