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Chinese PV Industry Brief: State entity set to gain controlling vote in Jolywood as Yunnan plans 620 MW of solar

The controlling shareholders of Shenzhen-listed solar manufacturer Jolywood have agreed to sell their stakes to state-owned WJ Energy, as two more power companies revealed big plans for new capacity. NYSE-listed Daqo, meanwhile, is mulling an IPO in its homeland.

Another billion-dollar quarter for JinkoSolar

Despite the challenges to both the manufacturing and shipment of its products during the period, JinkoSolar today reported that it shipped 3.4 GW of modules in the first quarter of 2020, bringing its revenue for the quarter just over the billion dollar mark.

Trina to re-list on Shanghai Stock Exchange

The Jiangsu-based PV manufacturer follows peer JA Solar in de-listing in the U.S. to return to its homeland. The board will hope to gain access to more funding as a result, and will also face less public scrutiny.

Renesola exits Vietnam, India and Korea

The Shanghai-based project developer – which will soon relocate to the U.S. – says the profit margins are not high enough in those markets and has cancelled its project pipeline in the nations. The company has also changed its CEO after less than five months and is on a drive to reduce capital costs.

Chinese recovery will begin before year-end, according to Jinko

The Shanghai solar manufacturer has revealed another set of record-breaking quarterly figures and says it will shift 18-20 GW of modules in 2020, en route to generating revenues of $1.17-1.23 billion.

Legal firm asks Sunnova investors burnt by IPO to get in touch

First-half losses that ballooned to $85.3 million saw the share price of the Texan third-party solar company fall 8% according to San Diego law firm Robbins Arroyo LLP. The legal business says it is investigating ‘potential violations of federal securities laws’ in connection with last month’s IPO.

Sunnova to go public

The company will list on the NYSE under the symbol NOVA. Sunnova’s prospectus filing reveals information about the company’s finances and operation.

Indian developer Azure Power turns a full year profit

A profit is a profit, even if it amounts to less than $2,000, and the NYSE-listed developer appears to have turned the corner after a $14,700 loss a year ago. Borrowings are on the rise though, as the company plans to drum up an ever larger project portfolio.

Azure Power raises $400 million in debt and equity

Azure Power has raised the capital since June 30th, and says it is “the largest amount of financing raised by a solar power company in India during this period”. Azure says the fund leaves it well positioned to deliver a 2 GW project pipeline.

Yingli to transfer to OTC Pink after NYSE delisting

Yingli Green Energy Holding Company Limited has been delisted from the New York Stock Exchange, and expects to begin trading on the OTC Pink on July 2, where there are no disclosure requirements.

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