Parent company hopes to raise $535 million from the move with $500 million worth of three-year senior notes owed by its solar project business due to mature on January 30.
Polysilicon maker GCL-Poly has started construction of a factory with an annual production capacity of 54,000 MT as Chinese inverter manufacturer Goodwe launched an IPO on the Shanghai stock market.
The Norwegian polysilicon supplier – which has most of its manufacturing operations on U.S. soil – cannot give any estimate on when its solar material production lines will return, and has been left entirely dependent on the semiconductor products made by its Montana facility.
The Norwegian manufacturer has delayed full shutdown of its U.S. polysilicon operation until mid July as President Trump and his Chinese counterpart are scheduled to hold talks in Osaka in two weeks’ time.
The Norwegian polysilicon producer posted an EBITDA loss of $6.1 million for the third quarter of 2018, as it continues to struggle with low demand and prices. Revenue for the company’s solar materials segment fell almost 70% on the previous quarter.
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