The board’s explanation for an anticipated $900 million hit in 2020, following a profit a year earlier? ‘The figures for 2019 were deceptive.’
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.
The NEA has revealed more than 1.3 GW of solar capacity was added to Chinese rooftops last month, with more than 500 MW of it in Shandong province. While poly maker Daqo was forced to revise down its latest sales forecast it predicted a quick rebound in the current quarter.
Plus, panel maker Risen began construction of a 15 GW cell and module factory in Yiwu, in the central Zhejiang province of eastern China.
Chinese polysilicon manufacturer Daqo has secured a long-term supply agreement with PV equipment provider and monocrystalline wafer manufacturer Wuxi Shangji Automation, Shanxi Coal International Energy Group has unveiled a plan to set up a 10 GW heterojunction solar cell production fab and Longi has held its wafer prices.
The polysilicon manufacturer, which is bent on slimming down its capital-intensive project development business, has generated another windfall to go towards servicing its onerous debt pile.
Cell manufacturer Aiko Solar is raising funds to increase its production capacity with 4.3 GW of new lines while Datang Corporation has inked a deal for a 1 GW desert project.
GCL-Poly has pulled its commitment to inject US$68m into a 30 GW production capacity wafer fab joint venture established with Tianjin Zhonghuan in the Chinese autonomous region of Inner Mongolia, citing a preference to focus on ‘more competitive products’.
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.