Canadian Solar privatization plans on ice
Last December, the company’s CEO made a proposed transaction offer to acquire Canadia Solar. Mulling the offer, a special committee has now advised the company’s board to cease its review of the proposal, highlighting that it could not find sufficient certainty in the CEO’s ability to secure the funding for the transaction. Following the news today the CEO has withdrawn his offer.
Lion Point Capital offers $250m to support Canadian Solar’s go-private bid
Shares of Canadian Solar soared earlier this week after U.S. investment firm Lion Point Capital revealed that it had initiated discussions with a number of undisclosed third parties about the possibility of funding the privatization of the solar PV module supplier.
Increased shipments, falling revenues for Canadian Solar in Q2
Module manufacturing giant Canadian Solar shipped 1.7 GW of modules in the second quarter of 2018, a 23.7% increase on the previous quarter, according to the company’s latest update. Net revenue, however, fell more than 50% quarter-on-quarter with the company blaming fewer project sales and lower module prices.
JA Solar exits NASDAQ exchange
Chinese module giant JA Solar has announced the completion of a merger that makes it the latest in a line of solar manufacturers to voluntarily de-list from a major stock exchange.
JA Solar to drop NASDAQ listing, go private
JA Solar has signed an agreement to cancel its listing on the NASDAQ stock exchange and go private in an all-cash transaction.
Sky Solar posts $3 million net profit in 2016
Net income hit $3.3 million in the 12 months to the end of December, from a net loss of $1.6 million a year earlier, although the Hong Kong-based PV independent power producer recorded a net loss of $8.7 million in the fourth quarter, from $7.4 million in the final three months of 2015.
SPI Energy unit to sell 4.8 MW in Japan
SPI Solar Japan, a wholly owned subsidiary of the Chinese PV group, has agreed to sell its entire interest in land and project development rights for 4.8 MW of PV capacity near Tokyo.
