China’s largest PV manufacturers claim limits placed on solar glass production two years ago, to prevent over production, are now causing an industry bottleneck.
The planned disposal of more than a third of the Chinese solar company’s project portfolio would take a significant chunk out of its debt mountain but trading in company stock was halted this morning, pending an announcement in relation to the project sale. Shunfeng sold off German PV project monitoring business meteocontrol to another operation owned by its main shareholder at the end of last year.
The heavily indebted solar project developer has revealed the state-backed element of two trailed fire sales of 636 MW of solar and wind project portfolios in China. The divestments will generate up to RMB450 million for the company while recognizing RMB200 million in losses on its investments.
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