GCL-Poly dilutes holding in developer business to raise funds
The poly maker yesterday secured approval from unpaid creditors to restructure the company’s debts and will commit the anticipated $115 million windfall from its shares placement towards its financial commitments.
India eyes 10 GW of ingot-to-module manufacturing capacity within two years
Under a production-linked incentive scheme, the government will reward manufacturers for building vertically integrated PV production lines. The scheme aims to attract 10 GW of production capacity by April 2023.
GCL-Poly shareholders sign up to debt restructuring plan
The holders of $500 million of unpaid senior notes which matured last month have agreed to receive 5% of the money now, plus a share of a $17.8 million fund, with the balance to be paid out in three years’ time.
Chinese PV Industry Brief: China could add 65 GW of solar this year as Longi order gives GCL-Poly a much-needed lift
State-owned power company SPIC is all set to contribute to the figures after announcing it wants to add 15 GW of renewables capacity during 2021 and China Glass, fresh from rebuffing Xinyi Glass’ takeover offer, is on the hunt for more manufacturing facilities.
Five commercial offtakers for $33m Jordanian solar portfolio
Telecomms, retail and garment manufacturing businesses have signed up to consume the electricity to be generated by eight solar projects in Jordan which will harness grid infrastructure to transfer an estimated 81 GWh of clean power annually.
SMA passes billion-euro mark in 2020 sales, expects further growth
Despite the Corona pandemic, SMA Solar was able to significantly improve its financial results over the past year and has met its 2020 forecasts. Overall, the German PV company has installed more than 100 GW of solar inverter power globally.
Photon closes €13m refinancing for Hungarian solar projects
Ten arrays commissioned in the last four months, with a total generation capacity of 14 MWp, have been refinanced with a 15-year loan.
UK government asks how future renewables incentives should work
The success of unsubsidized clean power facilities in the country – whether driven by corporate power purchase agreements or selling direct to the wholesale electricity market – has prompted the Department for Business, Energy and Industrial Strategy to ponder whether contracts-for-difference payments will be fit for purpose in the years ahead.
India to raise customs duty on solar inverters
Imported inverters and solar lanterns may become costlier from April, as the new budget raised the charges levied on them from 5%, for each category, to 20% and 15%, respectively.
Two innovative approaches to funding African solar
With Cape Town-based The Sun Exchange’s cell-level solar leasing model now reportedly serving 19,000 micro investors, linking finance directly to carbon emission tonnage is another route to bringing PV investment to fruition across the continent.
