Manufacturing

As expected, the EU has effectively announced the summer trade deal will be used as a panacea for its subsidy and dumping investigations. EU manufacturers are sure to be disappointed by the announcement.

A recent solar trade mission to Saudi Arabia saw a clutch of international companies explore first-hand opportunities to develop solar power in the country.

Mascotte’s prediction of an impending half-year loss last week must have been an easy call. The company has written off Sun Materials’ Yi-Lan plant at a cost of HK$845 million.

The Bulgarian government is set to introduced a new 20% tax on renewable energy. The country’s PV sector warns the move will scare off investors and reverse the country’s progress.

Property magnate Cheng Kin-ming will fund Shunfeng Photovoltaic’s acquisition of Wuxi Suntech in return for convertible bonds that could give him a 68% holding in the enlarged company.

The Chinese capital introduced an emissions trading scheme on Thursday and plans are afoot for the world’s second biggest scheme, in Guangdong province. GCL-Poly has yet to assess the impact on its operations.

Regional appetite for solar power and growing awareness of environmental issues has prompted Asian governments to support the materials industry, which is now worth $1.94 billion, the analysts report.

Canadian Solar’s apparent victory in its legal dispute with LDK Solar has been overturned by the court that awarded it. The dispute relates to wafer supply contracts which LDK says Canadian Solar broke.

Former solar giant China Solar has been forced to delay its six-month figures as an investigation into two of its Chinese subsidiaries continues. Three directors were arrested over the alleged false reporting on registered capital for the units.

The Chinese PV giants have invested $45 million in Yabang Group’s subsidiary, Changzhou NESL Solartech Co., and hope to reach 500 MW production capacity within 12 months.