Suniva

The Chinese clean energy giant is expecting losses over the first half of this year to amount to around $49 million following a difficult 2016 and further squeezing of the firm’s activities in 2017.

The U.S. arm of the troubled solar power company can expect to receive a $6 million infusion of cash from its lenders, which have also permitted the sale of non-operational assets.

Despite a robust first quarter, Mercom CEO Raj Prabhu says the uncertainty surrounding the Suniva trade case caused a dip in the second quarter and could have devastating effects going forward.

The company says the central assumption of the report – a $1.18 per watt floor price – is wrong and that the headlines resulting from the report could harm its trade case.

GTM Research’s latest report predicts a 50% to 60% overall reduction to solar installations if trade action is taken, with the utility-scale sector taking the most significant hit.

The U.S. International Trade Commission has informed the WTO that it is moving forward with its investigation into whether Suniva and SolarWorld deserve “global safeguard” protection from their competitors.

After originally being cool to Suniva’s petition to the U.S. International Trade Commission for protection from its Chinese competitors, SolarWorld Americas has reversed its stance and joined the complaint as a co-petitioner.

The U.S. International Trade Commission decided late tonight to move forward under Section 201 of the Trade Act of 1974 to investigate whether the bankrupt module maker deserves protection from its Chinese competitors.

Today Suniva filed for relief under a little-known act that could exempt the United States from global trade agreements and allow President Trump to take trade action against solar imports from multiple nations. Suniva is asking for a minimum import price of US$0.78 per watt for modules and $0.40 for cells.