In reporting its FY 2017 financials, Yingli has again revealed that “substantial doubt exists as to the Company’s ability to continue as a going concern.” It is seeking to agree on a debt restructuring plan with creditors, and is asking them to refrain from initiating bankruptcy proceedings. Overall, it recorded a 2017 net loss of US$510 million and total liabilities of $3.2 billion. It has not issued guidance for this year.
Meyer Burger Technology Ltd has secured a CHF 16million (US$16.3 million) order from an unidentified Asian customer for its MAiA and FABiA cell coating equipment. It is the first industrial order for the latter platform, says the company.
Sungrow, the world’s second largest inverter supplier, according to GTM research, has announced plans to establish production facilities in India. The Chinese inverter company is aiming to strengthen its global delivery capability by setting up central and string inverter facilities in the state of Karnataka. The fab would be its first outside of China.
The Chinese solar PV project developer has posted positive earnings for both FY2017 and Q4, although it has not included its discontinued manufacturing operations in its latest financials. Overall, it has a project pipeline of 1.1 GW, big plans for Europe and a strategic investor interested in injecting US$31.6 million in its Chinese Holdco.
Of the 9.65 GW of solar PV China installed in the first quarter of 2018, 7.68 GW comprised distributed generation (DG) systems, reports China’s National Energy Administration (NEA). Changes to the country’s PV policy have also been proposed.
Meyer Burger (Switzerland) Ltd has said it will appeal the decision by a Chinese court to dismiss claims that Wuxi Shangji Automation Co. Ltd has infringed on its patented wire wrapping system.
The Chinese authorities plan to use renewable energy technologies to provide all of the electricity that will be consumed in a new economic zone that is being developed near Beijing, according to local state media reports.
China continues to grow in importance as a key source of components for solar trackers produced by the world’s leading tracker companies, in part since improvements in Chinese quality control have advanced significantly over the last few years.