Chinese PV Industry Brief: Big solar players unveil H1 results
A number of Chinese PV companies – including Jinko Solar and Golden Solar – released their first-half earnings results this week.
Chinese PV Industry Brief: Tongwei scores 3 GW supply deal
Tongwei has won a contract to supply China Resources Power with 3 GW of solar panels, while Canadian Solar has revealed that it had a particularly strong second quarter.
GCL reveals it lost 865 million shares in New Energy business over loan disagreement
The Chinese polysilicon manufacturer said it only discovered this month that the stock in its solar project division – which it had pledged to secure a $60 million loan which GCL says was never delivered – had been claimed by the lender a year ago, on the grounds the finance agreement had been breached.
GCL prepares the decks to announce thumping losses
The board’s explanation for an anticipated $900 million hit in 2020, following a profit a year earlier? ‘The figures for 2019 were deceptive.’
GCL-Poly dilutes holding in developer business to raise funds
The poly maker yesterday secured approval from unpaid creditors to restructure the company’s debts and will commit the anticipated $115 million windfall from its shares placement towards its financial commitments.
GCL-Poly cross defaults over unpaid $500m senior notes
Creditors refused to postpone payment of the three-year notes for another 36-month term and now face receiving less than 5% of the amount due once a proposed debt restructure is completed, with the balance kept back until January 2024 regardless.
GCL shareholders set for a busy festive period as votes loom on $903m worth of solar project sales
Chinese state entities are now behind five phases of two separate sales deals which, if approved, will transfer more than 1.8 GW of solar generation capacity into public ownership.
China set to acquire 820 MW of solar project capacity
The latest, seven-project, 217 MW, $150 million project sell-off announced by the development business of polysilicon producer GCL-Poly means a lot will be at stake in the vote by its shareholders at an extraordinary general meeting in the new year.
GCL to generate $304m with 430 MW Chinese project sale
The debt-saddled GCL New Energy solar project business of the polysilicon manufacturer is aiming to sell off solar farms to transform into an ‘asset light’ operation.
Terms worsen for GCL in latest proposed project sale to China Huaneng
Chinese solar project developer GCL has added 109 MW of generation capacity to the portfolio it plans to sell to the state-owned buyer but on worse terms than the initial phase of project sales.
