Finance

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.

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.

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.

VW-owned SEAT has completed the installation of 53,000 solar panels on a rooftop array at its Martorell factory in Spain.

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.

Chinese module manufacturer Astroenergy will acquire Conergy’s Frankfurt module business. The identity of the buyer for the Rangsdorf-based Mounting Systems business has not been revealed.

The Hong Kong-based solar power investment company plans to develop 400 MW PV power generation projects in China over the next three years.

The manufacturer of silicon-based products will buy the stake, which comprises two solar polysilicon ventures, for $240 million.