The solar manufacturer today moved to reassure investors ahead of what promises to be another rocky set of first-half figures in two days’ time. The Hong Kong company says it wants to add another 3.6 GW of mono ingot and wafer capacity by early 2021.
The wind power generator also has a 930 MW solar portfolio but did not take big steps in unsubsidized PV during the first six months of the year.
A mix of higher operating costs and ageing coal assets – plus historically generous solar tariffs – meant the utility banked more profit from the 1.53 TWh of solar electricity it sold in the first half than it did from 25.9 TWh of coal-fired power.
With the company’s up-for-sale project development business revealing extensive debt concerns yesterday morning, that revelation is only half the story.
The opening pages of the first-half update published on the Hong Kong exchange made all the right noises with the company set to be acquired by a Chinese state-owned entity. But the balance sheet makes for shocking reading.
The heavily-indebted Chinese BIPV manufacturer has warned the petition issued by the German lender to recover a disputed $6.27 million debt could threaten the survival of the business as it would halt a planned bail-out by Beijing.
Two subscribers who signed up to a 20% discounted shares subscription in mid June ended up yesterday paying almost the same percentage as a premium on the trading price of the stock.
Troubled thin film manufacturer Thin Film will see a 51% controlling stake in a hugely profitable hydropower project auctioned off after a move by creditors. Hanergy Thin Film owner Li Hejun’s Hanergy Mobile Energy business in China says it will be among the bidders.
The collapse in business for the solar EPC provider after last year’s 5/31 policy announcement by Beijing has left the company’s future depending on the progress of a Chinese state bail-out. Provided that is, the business does not end up being wound up by Deutsche Bank first.
The High Court has approved plans for the Chinese state-owned power company to reassume control of its Hong Kong-listed solar project development business.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.