Enerray enters insolvency proceedings
Italian industrial group Maccaferri, the parent company of the insolvent EPC contractor, has also filed for insolvency for another three units of its energy business.
GCL-Poly dilutes stock to raise $87m to keep on top of debts
The polysilicon and wafer maker has been busy raising cash of late by indulging in a fire sale of project assets. With plans for ever larger production capacities to fund, it has now announced the issue of new shares amounting to more than 8% of the existing stock.
GCL wants to sell 977 MW solar portfolio to pay down debt
The Hong Kong listed polysilicon manufacturer is selling off solar assets to fund its thirst for production capacity expansion. The proposed sale would net the company almost $290 million to reduce its debt pile.
Xinyi Energy completes Hong Kong IPO to raise $465 million
The solar plant operations business – spun out of the solar glass manufacturer – reportedly finalized its initial public offering this week. Final confirmation of the proceeds is expected on Monday.
Hanergy Thin Film shareholders vote through share swap deal – just
The Chinese solar manufacturer is set to transfer independent shareholders’ stakes into a special purpose vehicle while one of its affiliate businesses seeks a listing on Beijing’s A-share index. Inevitably, though, the process has not been a smooth one.
Shunfeng’s steadily rising revenue cannot distract from its debt worries
Straining under a $2 billion debt mountain, the solar manufacturer is pinning its hopes on the proposed sale of its Jiangsu Shunfeng subsidiary to prevent it suffering the same fate as the original parent company of the Wuxi Suntech unit that makes up part of the Jiangsu division.
Hanergy Thin Film shareholders to vote on share swap proposal
Details have finally emerged about when independent investors will decide whether to wave through a deal to transfer their stock into a special purpose vehicle for relisting the Hong Kong unit on the Chinese A-share index.
Ailing Singyes forced to delay annual report again
Loan defaults have brought business at the solar goods maker and EPC to a halt and a lack of progress reports on its formerly lucrative project contracts means there is no immediate prospect of seeing the company’s 2018 figures.
Hanergy chairman resigned from the board along with three directors
Founding chairman Li Hejun is too busy travelling to promote the company to also manage day-to-day operations. His sisters will hold the stock on his behalf, however.
No mention of Hanergy share swap proposal in AGM notice
Parent group Hanergy Mobile Energy appears to have gone quiet on its proposal for shareholders in its Hong Kong unit to vote on whether to shift their stock in an attempt to have the business moved to the Chinese exchange. The clock is running down until the Thin Film unit loses its Hong Kong listing.
