Bloomberg has reported that Jiangsu based vertically integrated manufacturer Shunfeng Photovoltaic International Ltd has benefited from Suntech Power Holdings Co.'s liquidation prices to buy the panels and a project near the Mongolian border.
Shunfeng produces its own ingots, wafers and modules and the 29.7 MW Kumul solar project will be its first development.
The Shunfeng website states that the company: "takes the operating principle of vertical integration from upstream to downstream industry chain derivative development" but, presented with an offer it couldn't refuse, Shunfeng signed on the dotted line.
The purchaser has reportedly paid Y3.96 million (US$647,000) for a 99% stake in the project and will pay a total Y89 million, in stages, for the 29.7 MW of Suntech panels.
According to Bloomberg New Energy Finance, that price of 49 cents per Watt is 32% less than the average panel purchase price of 72c, calculated on May 22.
With the global solar industry showing the first tentative signs of a stabilization of panel prices, any decision by the former world number one supplier to slash the price of its extensive inventory is unlikely to be well received.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.