The polysilicon maker has turned a quick $160 million profit from the sale of its stake in a fund it paid $189 million to establish just five months ago. The heavily indebted manufacturer needs to raise funds to pay for its production capacity expenditure.

The debt saddled renewables project developer has signed off on the sale of two wind farms in Shanxi at a loss of RMB40 million on investment. The sale will contribute up to RMB251.5 million to help pay off the parent company’s debts.

The Asian Development Bank-backed procurement round attracted 26 bidders for the 60 MW project, according to the development lender. The ADB says the low price secured will persuade neighboring governments to embrace auctions.

The heavily indebted developer has cashed in two eight-project portfolios for an immediate $28 million windfall but accepted the sales recognize heavy losses as it continues to try and pay down debt.

The third round of the nation’s Large Scale Solar procurement program was oversubscribed more than 13 times its 500 MW limit. The final electricity price is likely to beat the previous $0.079-0.13/kWh to settle somewhere around $0.042-0.057.

Having stated an intent to hit 65 GW of annual mono wafer production capacity by the end of 2021, the Chinese solar manufacturing giant has now said that landmark will be achieved next year.

The Chinese manufacturer is holding out hope a boom that is expected to start imminently will help it turnaround losses that forced it to issue a profit warning last week. Getting its new production line in Qujing up to speed will help, provided the demand materializes.

The solar manufacturer and project developer appears to have secured a crucial rescue package funded by Chinese state-backed Water Development (HK) and has persuaded the holders of most of its $430 million in defaulted debt to accept a restructuring plan. Next up, the Hong Kong High Court.

The embattled solar manufacturer – which is facing a winding-up petition lodged by Deutsche Bank Hong Kong – says it failed to publish the six-month update by the weekend because of a delay in producing its annual results for last year.

The Shanghai-based solar manufacturer has maintained gross margin in a depressed domestic market by shipping ever more modules around the world and is pressing ahead with dramatic production plans on the eve of a looming solar boom.