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.
Lithium miner expects profits to plunge 65%
Ganfeng Lithium blamed a falling lithium salt price for its expected woes, rather than the effects of the COVID-19 outbreak on operations which it spelled out last month.
New hold-up in proposed $536m windfall for GCL New Energy
The proposed acquisition by state-owned China Huaneng of 294 MW of GCL project capacity in China has been delayed a second time.
Debt-saddled solar developer has state appointee take over as chairman and CEO
Zhang Ping, a 30-year coal-fired power industry veteran, has taken the helm at Hong Kong-listed Panda Green, days after a $230 million bail-out by state-owned Beijing Energy Holding Co Ltd.
Bail-out leaves Chinese solar developer needing to raise $62.5m by summer
The twice-postponed $230 million investment which will see Chinese state-owned Beijing Energy acquire a 32% stake in Hong Kong-listed developer Panda Green has finally gone through. The developer now has five months to drum up enough to pay off two more of its other three state-owned backers.
Beijing to develop 500 MW of solar in Uganda
State-owned China Energy Engineering Corp Ltd said the PV capacity will be developed in two phases in a deal worth $500 million.
New hold-up in GCL project business’ $155m asset sale
Shareholders planning to vote on whether to sell off 294 MW of Chinese solar capacity to Beijing-owned utility China Huaneng will have to wait a little longer to find out how.
Ganfeng Lithium affected by coronavirus but share price keeps on rising
The board of the lithium miner and refiner has revealed how the outbreak has hit its Chinese production after noting ‘unusual’ share price gains this week.
Indian lithium-ion battery imports quadrupled in two years
China, Hong Kong and Vietnam are the top three nations exporting batteries to India. Chinese imports were worth $773 million in the last fiscal year with Hong Kong shipping $267 million worth and Vietnam $114 million, according to the Ministry of Commerce.
Panda Green taps shareholder for $11m, 18-week loan at 13%
The debt-saddled PV project developer appears to again be piling up credit lines as it awaits the outcome next week of its latest, $231 million Chinese state-backed bail-out.
