The solar farm owner is having to juggle creditors as it tries to drum up further interest in its assets despite a ‘lack of marketability.’
The solar farm development unit owned by the poly maker sold off 2 GW of photovoltaic generation capacity in China in the first six months of the year but has confirmed more sales lie ahead.
Photon Energy reported raised revenue from sales of electricity in the second quarter of the year, compared with 12 months earlier, but said grid hold-ups at 14.6 MW of solar projects Down Under had affected performance.
The proposed sale of seven solar farms in China will raise more than $80 million for the heavily indebted developer, which this morning confirmed trading in its stock had resumed after a nine-day hiatus.
The $800 million of private backing secured by Californian residential solar finance business GoodLeap helped the sector achieve VC and private equity funding of $1.6 billion in the first six months of the year, up from just $210 million a year earlier.
The latest renewables investment report produced by analyst BloombergNEF has noted backing for solar projects continued to rise in the first half as wind power investment fell back.
The news Lebanon installed new solar capacity last year has come as a huge surprise, given the country is at risk of failure. Amid the country’s crisis, solar is offering solutions.
The Indian renewable energy sector saw investment totaling US$6.6 billion between April and July 2021, beating the total for the previous financial year.
A rapid ramping up of deployment would have little impact on the electricity price during summer, when air conditioning drives demand to its annual peak in the Canadian province, but it would bring hefty savings on the annual gas generation bill, even before carbon levies are factored in.
While some analysts have said the raw material shortage has eased sufficiently of late for its selling price to stabilize, the chief executive of Xinjiang-based producer Daqo made bullish statements about his company’s prospects yesterday, based on an expectation of continuing tight supply of the solar panel component.
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