Chinese manufacturer looks to pv magazine for its Covid-19 updates
Manufacturer Solargiga referenced our website, rather than official channels, to have a stab at anticipating the possible effects of the public health crisis on the industry as it insisted production lines powered by bargain-basement electricity prices this year would help turn around a $50 million loss for 2019.
Covid-19 pandemic puts 150 GW of PV, wind at risk in Asia
Up to 150 GW of PV and wind projects could be postponed or canceled throughout the Asia-Pacific region by 2024 if the coronavirus-triggered recession continues beyond the current year, according to new research by Wood Mackenzie.
Beijing bail-out saved the day for Chinese solar developer
A rebranded Singyes Solar was able to stave off a debt default meltdown last year thanks to a $200 million cash injection from the state but the turnaround appears to have come at a hefty cost in longer-term borrowings and employees.
Panda Green opened another $150m of state-owned credit lines
The debt-saddled developer secured $125 million on a three-year basis from China Construction Bank which will help towards the $271 million it owes investors by the end of July.
Chinese module manufacturer unveils bolt-on plan to raise capacity
A Solargiga subsidiary has handed over $2.5 million to almost double its stake in a 1.2 GW capacity module manufacturing business set up in June by investors which include the local government.
Crucial Chinese solar portfolio sale held up a third time
Investors in debt-saddled PV developer GCL New Energy will have to wait at least another month before a vote on a proposed project sale to a Chinese state-owned entity which would bring benefits of $526 million.
Chinese developer buys back three-year senior notes issued three months ago
The board of bailed-out Singyes Solar has bought back $18.4 million worth of notes issued in Singapore in late December and also hoovered up $240,000 worth which were unclaimed in the fundraising round.
Solar glass company posts stellar figures – but acknowledges Covid-19 threat
Xinyi Solar reported record profits earlier this month, not surprisingly prompting bullish talk of extending its plans to expand production capacity this year and next. However, with PV demand in Europe key to its returns, the company has accepted the coronavirus epidemic may have an impact this year.
Panda Green warns of $500m annual loss
The bailed-out Hong Kong-listed PV developer has warned its remaining independent shareholders of a thumping net loss for 2019 as it prepares to reveal its final results at the end of the month.
Poly maker pulls out of wafer JV with semiconductor company
GCL-Poly has pulled its commitment to inject US$68m into a 30 GW production capacity wafer fab joint venture established with Tianjin Zhonghuan in the Chinese autonomous region of Inner Mongolia, citing a preference to focus on ‘more competitive products’.
