Financial & Legal

Bankrupt Suntech Power Holdings said in an SEC filing that its subsidiary, Power Solar System has been granted an injunction in Singapore’s High Court prohibiting the disposal of assets claimed to be worth US$197.5 million by Suntech Singapore.

Internet giant Google is to provide US$145 million equity finance for an 82MW US PV project in the portfolio being operated by SunEdison’s spin-off yield co, TerraForm.

There will be almost no new utility-scale solar in the US in 2017 following the cut to the investment tax credit (ITC), according to GTM Research.

Solar Enhanced Oil Recovery (EOR) leader GlassPoint Solar is set to receive a US$53 million equity investment from the State General Reserve Fund –- Oman’s largest sovereign wealth fund – Royal Dutch Shell and other investors.

Side-stepping the trend towards yield co financial structures, major PVEP Canadian Solar has secured a PV project financing partnership with China’s Sichuan Development Investment Management firm, part of the local Sichuan government.

Taiwan-based solar cell producer, Gintech Energy Corp reported a third consecutive slump in monthly sales.

China-based PV manufacturer and developer Hareon Solar Technology has signed another PV framework agreement totalling 100MW with Hakusan Municipal Economic Development Zone in Baishan city.

Taiwan-based solar wafer producer, Green Energy Technology (GET) has said it is considering establishing an overseas module assembly plant with sister company, Gintung.

LDK Solar’s Cayman Island liquidators with the support of two major investors are attempting to start restructuring proceedings in Hong Kong of LDK Solar’s key asset, its polysilicon production operations, LDK Silicon & Chemical Technology Co.

Sharp Corporation could be preparing to sell on Recurrent Energy, the US PV project developer it acquired in 2010, according to news reports.