Former Panda Green finance chief backtracks on backdated paperwork interview
Li Hong, former chief finance officer of the now-state-owned Chinese solar developer has reportedly told Panda Green the information he gave KPMG investigators about $146 million of missing project rights payments ‘may not be accurate.’ He has refused to be interviewed again by the investigators.
Deloitte abandons Chinese solar company SFCE because of going-concern fears
The auditor cited the threat posed to the debt saddled business as the reason for resigning its role, effective from today.
KPMG finds HK$12m of missing Panda Green deposits ended up in former CEO’s account
The stunning findings of an investigation by the auditor into RMB1,022 million paid by Panda Green for the right to develop solar projects which never materialized included confirmation by the former chief finance officer documents were drawn up after the fact.
Redox flow battery powered by perovskite solar cells
An international team has developed an integrated solar flow battery which has been suggested as ideal for off-grid locations. The device, which combines energy conversion and storage in one unit, can be used for lighting and recharging cell phones.
Chinese PV Industry Brief: Longi to grow by 10 GW, China opens world’s largest floating PV project
Plus, equipment manufacturer Shangji Automation is set to enter the silicon ingot making game with plans for an 8 GW fab, while state-owned developer Panda Green says it plans to add 500 MW of annual project capacity over the next three years.
Chinese PV Industry Brief: Tongwei freezes cell prices, state body opens procurement round
Longi has also joined the 500 W-plus module club with its new Hi-Mo5 product, while Sunport has announced to expand production of its MWT module.
Chinese PV Industry Brief: State entity set to gain controlling vote in Jolywood as Yunnan plans 620 MW of solar
The controlling shareholders of Shenzhen-listed solar manufacturer Jolywood have agreed to sell their stakes to state-owned WJ Energy, as two more power companies revealed big plans for new capacity. NYSE-listed Daqo, meanwhile, is mulling an IPO in its homeland.
Cash-strapped developer SFCE dependent on buyer goodwill for $66m 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.
KPMG to look into Panda Green’s missing $144m
The accountant is expected to announce the results of its investigation into RMB1,022 million of missing solar project development rights payments early next month.
Chinese PV Industry Brief: a 15 GW factory, new standards and solar glass output
Risen Solar has unveiled plans for a 15 GW cell and module fab in Yiwu City, Zhejiang province and China South Glass is fundraising for a PV glass factory in Anhui province. Such growth, however, may be slowed by the introduction of new standards by the government.
