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SFCE

Deloitte abandons Chinese solar company SFCE because of going-concern fears

The auditor cited the threat posed to the debt saddled business as the reason for resigning its role, effective from today.

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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.

Cash-strapped developer SFCE dependent on buyer goodwill for $66m project sell-off

SFCE is scrambling to keep creditors at bay and has been unable to guarantee more than half the windfall it expects from selling off 140 MW of Chinese project capacity will actually be paid.

Covid-19 weekly round-up: Predatory takeover fears, Ieefa takes aim at the IEA and diverse perspectives on e-mobility

Analysts appear divided on the effects the public health crisis will have on the EV market even as sales of petrol-engined SUVs soar in China. And Portugal is plowing on with its Covid-delayed national solar tender, an exercise which may help establish whether clean energy thinktank Ieefa is right to predict PV prices will continue to fall.

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Chinese PV Industry Brief: a 15 GW factory, new standards and solar glass output

Risen Solar has unveiled plans for a 15 GW cell and module fab in Yiwu City, Zhejiang province and China South Glass is fundraising for a PV glass factory in Anhui province. Such growth, however, may be slowed by the introduction of new standards by the government.

Covid-19 weekly briefing: US residents ponder solar during lockdown, Aussie installers wonder what might have been and the Indian EV industry calls for help

Plus, Italian developers continue to dig deep for their health service, the pandemic piles on problems for a debt-saddled Chinese company and analysts consider whether there will be any money left for a green economic recovery after the dust settles.

Covid-19 hampering the survival prospects of private solar developers in China

SFCE has revealed, in a string of stock market updates this year, the coronavirus pandemic is complicating its efforts to sell off PV projects fast enough to pay off creditors.

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Shunfeng posts $265.2m loss in 2019

The Chinese group’s loss widened significantly from the preceding 12-month period, despite posting a 5.4% year-on-year jump in revenue to RMB1.7 billion ($242.2 million).

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Shunfeng halts trading ahead of 540 MW project capacity sale

The planned disposal of more than a third of the Chinese solar company’s project portfolio would take a significant chunk out of its debt mountain but trading in company stock was halted this morning, pending an announcement in relation to the project sale. Shunfeng sold off German PV project monitoring business meteocontrol to another operation owned by its main shareholder at the end of last year.

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Shunfeng to sell production assets for $447m

A unit of Shunfeng International Clean Energy (SFCE) has agreed to sell PV manufacturing assets to Asia Pacific Resources Development Investment for RMB 3 billion ($447 million).

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