Power generation statistics released by the National Energy Administration appear to confirm the nation added 12 GW of solar last month. China also deployed another 41 GW of polluting coal-fired power plants last year.

The state-owned electric utility is preparing to acquire seven project companies in China, generating $156 million for the developer and removing a further $385 million of liabilities from its books.

The construction group, which indirectly owns 67% of the solar developer will pay the funds to complete the $98m sale of two 50 MW solar farms in China to a third-party soon to also be controlled by Shuifa.

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.