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New Energy Exchange Ltd

KMPG finds HK$12m of missing Panda Green deposits ended up in former CEO’s account

The stunning findings of an investigation by the auditor into RMB1,022 million paid by Panda Green for the right to develop solar projects which never materialized included confirmation by the former chief finance officer documents were drawn up after the fact.

State-owned Panda Green set to bank more public funds

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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