Shunfeng International is already overdue on debts of $381 million and a deadline for investors holding GCL-Poly senior notes worth $500 million to agree to postpone payment is due to expire today as the company prepares to vote on a $309 million, 430 MW solar 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.
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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